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Business Studies, the study of the management of individuals organizing to maintain collective production toward achieve particular creative and productive goals (usually to generate profit), is taught as an speculative subject in many schools. Basic forms of ownership Sole proprietorship: A business possess by one person. The owner may manage on his or her own or may employ others. The owner of the business has total and unlimited personal liability of the debts incurred by the business. joint venture: A form of business in which two or more people operate for the common goal of making profit. Each partner has total and unlimited personal liability of the amount overdue incurred by the partnership. There are three classifications of partnerships: general partnerships, limited partnerships, and limited liability partnerships. Corporation: A business corporation is a for-profit, limited problem entity that has a dividee legal personality from its members. A corporation is owned by multiple investor and is overseen by a board of leader, which hires the business's managerial employees. Cooperative: A cooperative is a for-profit, limited liability entity, differs from a corporation in that it has members, as opposite to shareholders, who share decision-making power. Cooperatives are secret as either consumer cooperatives or worker cooperatives. Article Source: http://www.articlewheel.com
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