Types of Business and liability
| __ | 1. | Franchise | | A. | Owner(s) may have to use personal money to pay debts | | __ | 2. | Government Business | | B. | Limited: has a few, chosen shareholders | | __ | 3. | Limited Liability | | C. | Unlimited: owner has to pay all debts | | __ | 4. | Partnership | | D. | Limited: has many shareholders | | __ | 5. | Private Company | | E. | Owner(s) only have to use business money to pay debts | | __ | 6. | Private Company | | F. | Limited. | | __ | 7. | Public Company | | G. | Unlimited: owners have to pay all debts themselves | | __ | 8. | Public Company | | H. | This type can overlap with other types | | __ | 9. | Sole Trader | | I. | Shares available to buy and sell whenever shareholders want | | __ | 10. | Unlimited liability | | J. | Shares only available to people chosen by the starting owner |
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