Environments of Business

Environments of Business



Environments of Business

Summary

As we know there are three legal kinds of businesses, the sole proprietorship, partnership and corporation. If we compare the three forms of businesses the difference among the three is, in sole proprietorship the legal existence of such business is that it does not need extensive list of legal requirements which means anyone can start up a single entity business just requiring finance for it. (Sheffrin, 2003)

Partnership on the other hand requires legal agreement among the partners involved in the business and it has to be legally designed with the consent of all the ...