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Running head: MULTIMEDIA ACTIVITY
There are various types of business organizations which operate on totally different
entities while some are closely related in all that they do. They are categorized differently
depending on a number of factors (Sitarz, 2011). Some common factors that are used to
categorize business organizations include ownership, liabilities, nature of operations, formation,
and structure among others. The paper is about various business structures and entities that exist.
There are various business structures that exist and if one has to start any business then,
quite a number of factors will be considered. Business structures are the organizational
categories that are characterized by legal definition and recognized within a given jurisdiction. If
I were to start my own business then I would choose partnership business structure. This is a type
of business structure where I will partner with two or more people to operate the new business.
The profit will be shared between the partners (Berger & Udell, 2002). The main reason for
choosing this business structure is because the business will still operate even in my absence. All
the partners usually act on behalf of one another in matters to do with business. Am also
choosing this business structure because it is less expensive and at the same time easy to set up
compared to other more complex business structures. It is also a good deal because if any loss
occurs, they will be shared among the partners and this may not...
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