Small Business Encyclopedia
Category: Business-structureCorporation
A form of business operation that declares the business as a separate, legal entity guided by a group of officers known as the board of directors
Incorporation
To legally form a corporation
Partnership
A legal form of business operation between two or more individuals who share management and profits. The federal government recognizes several types of partnerships. The two most common are general and limited partnerships.
Limited Liability Company
A form of business organization with the liability-shield advantages of a corporation and the flexibility and tax pass-through advantages of a partnership
Limited Liability Partnership
A business organization that allows limited partners to enjoy limited personal liability while general partners have unlimited personal liability
Nonprofit Corporation
A business organization that serves some public purpose and therefore enjoys special treatment under the law. Nonprofit corporations, contrary to their name, can make a profit but can't be designed primarily for profit-making.
Sole Proprietorship
A business that legally has no separate existence from its owner. Income and losses are taxed on the individual's personal income tax return.
Subchapter S Corporation
A special form of corporation that allows the protection of limited liability but direct flow-through of profits and losses
Popular Articles
Viral Chick-fil-A Employee Quits After Reportedly Being Told to Stop Posting Reviews of the Food and Drinks
Mimi Webb has over 3.8 million likes across her videos.
63 Small Business Ideas to Start in 2024
We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.
Starting or Growing a Business? Here's How to Know When You Should Hire Your First Employee.
When enlisting help, follow these steps to make the best decision for your company.
How AI Is Transforming Keyword Research (and Why You Can't Afford to Ignore It)
Learn how AI tools can streamline keyword research, improve content targeting accuracy and boost SERP rankings. Whether you're a beginner or a seasoned professional, this guide is a must-read for success in the digital space.
Your Comprehensive Guide to Becoming an SEO Expert – and Making Money While Doing It
Whether you're looking to earn more money or grow your digital presence, becoming an SEO expert could be a major windfall.
Southwest Airlines CEO Says the Company May Start Assigning Seats
The airline reported its Q1 2024 earnings on Thursday.