Business Partnerships – Business Law Series – Business Entities

A partnership is made up of two or more individuals who are in business together. Partnerships may be a small family operation, or a larger legal or accounting firm. The two main types of partnerships are: General partnership. Limited partnership. General partnerships No express agreement is required for this type of partnership. Partners invest their money, property, […]

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Sole Proprietor

Sole Proprietor – Business Law Series – Business Entities

Sole Proprietor (Sole Trader), is the most common form of business organization and is generally one person doing business by themselves. Business owners may hire employees and are responsible for their actions. E.g. If an employee damages something or injures someone the business owner may be liable for any costs or legal claims. Sole Proprietor […]

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business entity

Introduction To Business Entities – Choosing A Business Entity

This is the first article in our Business Law series. This section covers the different types of business legal entities (legal types of business). It is important for business owners to understand the main differences between business organizations and which business organization is best for them as it affects: How the business is taxed. The […]

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