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Types of business ownership

2007-06-09 17:07:33

Sole Proprietorship: a business owned by one person. The owner may operate on their own or may employ others. The owner of the business has total and unlimited personal liability of the debts incurred by the business. Partnership: A partnership is a form of business in which two or more people operate for the common goal of making profit. Each partner has total and unlimited personal liability of the debts incurred by the partnership. Cooperative Business: (often referred to as a Co-Op business or Co-Ops) use a cooperative business structure: for-profit, limited liability, but with members of the co-op share decision-making authority. Co-Ops normally fall into three types: consumer co-ops, producer co-ops (common in agriculture) and worker-owned companies. Co-Ops are fundamental to the ideology of Economic democracy. Limited Companies Private Limited Company (Ltd): a small to medium sized business that is often run by the family or the small group who own it. The owners and managers are only liable for the business up to the amount they have invested in the company, and are not liable for the debts incurred by the company unless they have signed a personal guarantee. Public Limited Company (Plc): a business with limited liability, a wide spread of shareholders and in the UK, a share capital of over £50,000. The owners and managers are only liable for the business up to the amount they have invested in the company, and are not liable for the debts incurred by the company (unless they have signed a personal guarantee, which usually is not the case for a large corporation). In the United States and some other countries, a limited company is known as either a corporation or a limited liability company. Franchise: a new and popular form of business, especially in the United States. This is where an individual or small business (the franchisee) is given the right to use the identity and sell the products or services of another firm (franchisor). The chances of success for the franchisee are high, however a small portion of the profits must go to the franchisor. Examples of this form of business ownership include McDonalds, Burger King and the Body Shop.

Commercial Street, Bangalore. India

Commercial Street, Bangalore. India There are many types of businesses, and, as a result, businesses can be classified in many ways. One of the most common focuses on the primary profit-generating activities of a business, for example:
  • Manufacturers produce products, from raw materials or component parts, which they then sell at a profit. Companies that make physical goods, such as cars or pipes, are considered manufacturers.
  • Service businesses offer intangible goods or services and typically generate a profit by charging for labor or other services provided to government, other businesses or consumers. Organizations ranging from house decorators to consulting firms to restaurants and even to entertainers are types of service businesses.
  • Retailers and Distributors act as middle-men in getting goods produced by manufacturers to the intended consumer, generating a profit as a result of providing sales or distribution services. Most consumer-oriented stores and catalogue companies are distributors or retailers.
  • Agriculture and mining businesses are concerned with the production of raw material, such as plants or minerals.
  • Financial businesses include banks and other companies that generate profit through investment and management of capital.
  • Information businesses generate profits primarily from the resale of intellectual property and include movie studios, publishers and packaged software companies.
  • Utilities produce public services, such as heat, electricity, or sewage treatment, and are usually government chartered.
  • Real estate businesses generate profit from the selling, renting, and development of properties, homes, and buildings.
  • Transportation businesses deliver goods and individuals from location to location, generating a profit on the transportation costs . Business and Society.

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Board Games

2007-06-09 16:48:06

A board game is a game played with counters or pieces that are placed on, removed from, or moved across a "board" (a premarked surface, usually specific to that game). Simple board games often make ideal "family entertainment" since they are often appropriate for all ages. Some board games, such as chess, go/weiqi, xiangqi, shogi, or oware, have intense strategic value and have been classics for centuries. There are many different types of board games. Many games simulate aspects of real life. Popular games of this type include:

Monopoly

Monopoly Other games only loosely, or do not at all, attempt to imitate reality. These games include:
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Additional Information

2007-06-09 15:29:20

Auctions are publicly and privately seen in several contexts and almost anything can be sold at auction. Some typical auction arenas include the following:

  • the antique business, where besides being an opportunity for trade they also serve as social occasions and entertainment
  • in the sale of collectibles such as stamps, coins, classic cars, fine art, and luxury real estate
  • the wine auction business, where serious collectors can gain access to rare bottles and mature vintages, not typically available through retail channels
  • in the sale of all types of real property including residential and commercial real estate, farms, vacant lots and land
  • for the sale of consumer second-hand goods of all kinds, particularly house clearances and online auctions.
  • sale of industrial machinery, both surplus or through insolvency.
  • in commodities auctions, like the fish wholesale auctions
  • in thoroughbred horseracing, where yearling horses are commonly auctioned off; and
  • in legal contexts where forced auctions occur, as when one's farm or house is sold at auction on the courthouse steps.
Although less publicly visible, the most economically important auctions are the commodities auctions in which the bidders are businesses even up to corporation level. Examples of this type of auction include:
  • sales of businesses
  • spectrum auctions, in which companies purchase licenses to use portions of the electromagnetic spectrum for communications (for cell phone networks, for example)
  • timber auctions, in which companies purchase licenses to log on government land
  • electricity auctions, in which large-scale generators and consumers of electricity bid on generating contracts
  • environmental auctions, in which companies bid for licenses to avoid being required to decrease their environmental impact
  • debt auctions, in which governments sell debt instruments, such as bonds, to investors. The auction is usually sealed and the uniform price paid by the investors is typically the best non-winning bid. In most cases, investors can also place so called non-competitive bids, which indicates an interest to purchase the debt instrument at the resulting price, whatever it may be
  • auto auctions, in which car dealers purchase used vehicles to retail to the public.
Major auction houses include Christie's, Sotheby's, Lyon & Turnbull and Bonhams. Internet auctions such as eBay and GoIndustry.com have become very popular. Websites such as AuctionZip.com and Auctioneers.org display live auction listings from auctioneers nationwide. Auction catalogs are frequently printed and distributed before auctions of rare and/or collectible items; these catalogs may be very elaborate works, with considerable details about the items being auctioned. Auctioneers are usually trained in the legal and practical aspects of conducting auctions. Some jurisdictions require auctioneers to be licensed and bonded. In the U.S., some auctioneers who have completed auctioneer school use the title Colonel and are given this honorary title because in the U.S. Civil War, Colonels of the armies were called upon to auction off the spoils of war.
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