Ch 3 business 0.0 / 5 ? Business StudiesBusiness case studiesGCSENone Created by: a f.vCreated on: 22-05-14 17:08 Ch 3 - 1 of 11 Deed of Partnership A binding legal document which states the formal rights of a partner. 2 of 11 Franchise Where a business(the franchisor) allows another operator(the franchisee) to trade under their name. 3 of 11 Incorporated Businesses Where the business has a separate legal identity from that of its owners. 4 of 11 Limited Liability Where a business owner is only liable for the original amount of money invested in a business. 5 of 11 Limited Liability Partnership A partnership where all partners have limited liability. 6 of 11 Limited Partnership A partnership were some partners contribute capital and enjoy a share of the profit but do not take part in running the business. 7 of 11 Partnership A business owned by between 2 to 20 people. 8 of 11 Sole Trader (or Sole Proprietor) A business owned by a single person. 9 of 11 Unincorporated business Those businesses where there is no legal difference between the owner and the business. 10 of 11 Unlimited Liability Where the owner of a business is personally liable for all business debts. 11 of 11
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