2.  If you own a business, you may wonder what form of ownership you fall under. There
are four basic types of ownership. These are a sole proprietorship, a
corporation, partnerships, and limited liability companies . If you are the only person
that owns the company you are a sole proprietor. The other forms of ownership
involve more than one owner.

3.  Sole Trader
A Sole Proprietorship is a type of business ownership, it belongs to only one person.
The owner can hire his/her staff and takes responsibility for all capital needed [like
machinery, start-up costs or raw materials]. The owner also accepts all profits and
debts incurred.

4.  Partnership
Groups of people who agree to combine their capital, labour and resources towards
some common goal [usually profit]. It may have 2 to 20 members. You will also need
an attorney to draw up the contract between the partners, the contract should state
what contributions each member has made, how the profits will be divided and many
other aspects within the partnership.

5.  Close Corporation
A Close Corporation does not have any shareholders only some members who share
some common goal. Each member makes a contribution of some money, assets or
services towards the Corporation. This form of ownership is limited to 10 members
and ends with the [cc] abbreviation

6.  Private Company
This type of ownership can be public or private. A private company does not sell
shares to the general public like a public company would do to raise capital. Every
private company has the words (Pty) Ltd after the company name and this name can
be obtained the Registrar of Companies, it needs 1 shareholder, 1 director and there
is a limit of 50 shareholders

7.  Sole Proprietorship:
Easiest and least expensive form of ownership to organize
 Partnership:
Partnerships are relatively easy to establish; however time should be invested
 Corporation
shareholders have limited liability for the corporation debts
 Private Company
 In a private company there are a lesser number of people to be consulted. Family
members, relatives and close friends form a private company. They can take prompt
decisions.

8.  Sole Trader:
Sole proprietors have unlimited liability and are legally responsible for all debts against
the business.
 Partnership
Partners are jointly and individually liable for the action of others
 Close corporation
The process of incorporation require more time and money than other organization
private company
 Public has little confidence in a private company because its affairs are unknown and
it is not subject to strict control under the law.

9. SAM WALTON,( 2010) FORMS OF OWNERSHIP
BABY AKHONA,(2012) BUSINESS OWNERSHIP
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SAM WALTON,( 2010) FORMS OF OWNERSHIP