Business Ownership and Operations

Wholesaler

Also known as a distributor, distributes goods.

Manufacturers

Are businesses that make finished products out of processed goods.

Processors

Change raw materials into more finished products.

Unlimited Liability

Full responsibility for your company's debts.

Limited Liability

If your company loses money, the stockholders lose only what they invested.

Corporation

Is a business owned by many people but treated by law as one person.

Sole Proprietorship

Is a business owned by only one person.

Partnership

Is a business owned by two or more persons who share the risks and rewards.

Producer

Is a business that gathers raw products in their natural state.

Intermediary

Is a business that moves goods from one business to another.

Franchise

Is a contractual agreement to sell a company's products or services in a designated geographic area.

Nonprofit Organization

Is a type of business that focuses on providing a service rather than making a profit.

Cooperative

Is an organization owned and operated by its members for the purpose of saving money on the purchase of certain goods and services.

Retailer

Purchases goods from a wholesaler and resells them to a consumer, or the final buyer of the goods.

Stock

Shares of ownership in your corporation.