Describe the characteristics of these forms of ownership: sole proprietor, partnership, close corporation, public company and private company, using the table below:

• Name of the entity.

• Number of owners.

• Rules and regulations to comply with when starting.

• How long can the business continue for?

• What are the financing possibilities?

• Who will manage the business?

• What taxation responsibilities are there?

• To what extent are the owners responsible for the liabilities of the entity?

Complete this table by adding as many lines as necessary to add all the information above.

Transcribed Image Text:

Characteristics Name of entity Number of owners Sole proprietor Partnership Close corporation Public company Private company