Business ownership partnership

Business ownership opens up a wide range of opportunities that you would not have as an employee. You can form business relationships that can lead to new opportunities, including partnerships. When you meet with others, either natural foods store owners or just people who own their own businesses, you might find you have something that will satisfy someone else s need and they might have something for you. 

While the introduction presented here will certainly not prepare you for either of the stated applications, it could form the foundation on which you can gradually, by study and observation, build a superstructure of understanding how businesses are organized from a legal perspective. Recognize that variations exist on the three basic forms of form of business ownership. The following descriptions of the sole proprietorship, partnership, and corporation are based, in part, on Clough et al (2005), Halpin (2006), and Walesh (2000). 

From a legal perspective, businesses such as consulting firms, manufacturing companies, and constructors use one of three basic forms of business ownership the sole proprietorship, the partnership, and the corporation. As you move through your career in the private sector, when you are an employee, you may work for all three types of organizations. If you decide to start you own business, various business ownership avenues and scenarios are available. For example, you may begin as a sole proprietorship, then join with others in a partnership, and finally convert to a corporation. 

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