Businesses are structured in different ways to meet different needs. The simplest form of business is called an【B1】______pro

Businesses are structured in different ways to meet different needs.
    The simplest form of business is called an individual proprietorship. The proprietor owns all the property of the business and is responsible for everything. This means the proprietor receives all the profits, but must also pay any debts. The law recognizes no difference between the owner and the business.
    Another kind of business is the partnership. Two or more people go into business together. An agreement is usually needed to decide how much of the partnership each person controls.
    There are limited liability partnerships. These have full partners and limited partners. Limited partners may not share as much in the profits. But they also do not have as many duties.
    The most complex kind of business organization is the corporation. Corporations are designed to have an unlimited lifetime.
    Corporations can sell stock to raise money. Stock represents shares of ownership. Investors who buy stock can trade their shares or keep them as long as the company is in business. A company might use some of its earnings to pay dividends as a reward to shareholders. Or the company might reinvest the money into the business.
    If shares lose value, investors can lose all the money they paid for their stock. But shareholders are not responsible for the debts of the corporation. A corporation is recognized as an entity, its own legal being, separate from its owners.
    Corporations can have a few major shareholders. Or ownership can be spread among the general public. Incorporating offers businesses a way to gain the investments they need to grow.