As shown in Figure 6.2: Types of U. S. Businesses, corporations account for 18 percent of all US businesses but generate almost 82 percent of the revenues. However, there are three main form of business ownership: sole proprietorships, partnerships, and corporations. After reading about these different types of ownership, define each. When defining each, provide an example of a current organization that utilizes them. What are advantages of each ownership form? Which form do you see most commonly in your industry?

As shown in Figure 6.2: Types of U. S. Businesses, corporations account for 18 percent of all US businesses but generate almost 82 percent of the revenues. However, there are three main form of business ownership: sole proprietorships, partnerships, and corporations. After reading about these different types of ownership, define each. When defining each, provide an example of a current organization that utilizes them. What are advantages of each ownership form? Which form do you see most commonly in your industry