There are several types of commercial structures that companies can use, each with its own set of benefits and drawbacks. Some common types of commercial structures include:
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Sole proprietorship: This is a business owned and operated by a single individual, who is responsible for all aspects of the business.
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Partnership: This is a business owned and operated by two or more individuals, who share responsibility for the business.
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Limited liability company (LLC): This is a business structure that combines elements of both a partnership and a corporation. LLC owners, known as members, have limited liability for the company's debts and obligations.
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Corporation: This is a business structure that is separate from its owners, who are known as shareholders. Corporations can be either for-profit or nonprofit.
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Cooperative: This is a business structure in which the members are also the owners and share in the profits and decision-making of the business.
The type of commercial structure a company chooses will depend on a variety of factors, including the size and nature of the business, the level of liability the owners are willing to take on, and the tax implications of each structure.
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Innovation distinguishes between a leader and a follower.
Haluk YAMANER
Founder @ Future Software UAE
Founder @ Future Linux
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