Types of Business Ownership

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Across
  1. 2. A business structure where all the partners have decision-making and management power, and have unlimited liability, meaning they can lose more than they invested.
  2. 3. A hybrid business structure where all the partners have decision-making and management power, have limited liability, and can’t be held responsible for any of their other partner’s actions.
  3. 4. A legal entity that is separate from its owners and controlled by a board of directors; the entity has most of the same rights and responsibilities that individuals possess but offers limited liability.
  4. 11. A legal document that outlines the rights, responsibilities, and obligations of the individuals involved in a partnership.
  5. 13. A business structure where one or more of the partners are not active, have no decision-making power, and are limited in their liability to the amount they invested.
  6. 15. The liability that extends beyond an individual’s financial investment in a company.
Down
  1. 1. A business owned by one person, and where the owner has unlimited liability.
  2. 5. A corporation that meets specific Internal Revenue Code requirements and passes corporate income (or loss) through to its shareholders for federal tax purposes.
  3. 6. The legal responsibility of an individual (or entity) for actions, debts, and obligations.
  4. 7. The liability restricts an individual’s potential loss to the total amount of their investment in a company.
  5. 8. A business owned by two or more people.
  6. 9. Also known as "B Corp", a corporation that explicitly considers public benefit in its decisions rather than only maximizing shareholder value.
  7. 10. A hybrid business structure, where it combines the operational characteristics of a sole proprietorship or partnership while limiting the liability of the investors to the amount they invested.
  8. 12. Documents filed with a governmental body to legally establish a corporation as a recognized entity under state law.
  9. 14. A corporation that can sell unlimited shares of its stock to the general public, is heavily regulated by the government, and reports its financial information to the public.