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BUSINESS:
"A business (also known as enterprise or firm) is an organization engaged in the trade of goods, services, or both to consumers."
BASIC FORMS OF OWNERSHIP:
Sole proprietorship: A sole proprietorship is a business owned by one person for-profit. The owner may operate the business alone or may employ others. The owner of the business has unlimited liability for the debts incurred by the business.
Partnership: A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business. The three typical classifications of for-profit partnerships are general...
