25 Jan 2010
Among all existing types of business companies it is possible to identify the four major business organizations. They are: sole proprietor, corporation, partnership and non-profit organizations.
Sole proprietor can be related to as a unincorporated business organization. The major advantage of this business is the fact that its owner is the only legal body that controls it and gets all the profit. Nevertheless, such type of business organization does not have what is known as limitations of liability and therefore experiences difficulties in the fact that the debt of this business becomes the straight the debt of its owner. It does not imply any partners and the owner has
