A company with one owner, personal liability, and pass-through taxation. A company with multiple owners, personal liability, and pass-through taxation. A company with multiple owners, limited liability, and pass-through taxation.
Wholesale. Adrian works for a company that buys jewelry at a low price and resells it to jewelry stores for a higher price. Wholesale. Petra orders a large quantity of hats printed with a popular sports team's logo, and then resells them individually in her sports store.
Robyn wants to turn her sole proprietorship as a tutor into a larger company with many owners and liability protection. She is willing to deal with double taxation and a complicated setup process. Cuba is starting an event planning company. He wants to protect his liability, and he would prefer pass-through taxation.
Arpita works for a company that produces children's toy blocks , and her team applies the paint to the blocks just before they are completed. Process. Ronnie's company produces cakes and cookies, so he has a team that focuses on cakes, and another team that focuses on cookies. Product.
Doug and Vanessa want to start a carpet cleaning business together and share the ownership and profits. They are not concerned about personal liability. They want the business to be fairly simple to set up. Partnership. Esperanza is starting a business by herself as an illustrator for magazines and children's books.