The document discusses different forms of business ownership including sole proprietorship, partnership, and corporation. A sole proprietorship is a business owned and operated by one individual who assumes all risks and profits. Key characteristics include sole ownership, management, and unlimited liability. Advantages include ease of formation and sole authority, while disadvantages include unlimited liability and lack of continuity. Partnerships involve two or more co-owners who share profits and management. Corporations are separate legal entities from owners, with shareholders and potential for unlimited scale.

3. BUSINESS OWNERSHIP
 Business ownership means having the
control over a business enterprise and
being able to dictate its functioning and
operations.

6. “ SOLE PROPRITORSHIP”
 “ A Sole proprietorship is a business unit whose
ownership and management are vested in one
person the individual assumes risks or loss or
failure of the enterprise and receives all profits
from its successful operations”
(Paterson & plowman)

7. CHARACTERSTICS OF SOLE
PROPRITORSHIP

8. CHARACTERSTICS
 Ownership
Management & control
 Finance
 Risk
Unlimited liability
Legal status
Relation ship with customer
Ease of dissolution

9. ADVANTAGES OF SOLE
PROPRITORSHIP
 Ease of formation
 Sole authority
Sole claim on profit
Credit standing
Minimum legal restrictions
Secrecy
Possible tax advantages
Self employment

10. DISADVANTAGES OF SOLE
PROPRITORSHIP
Burden of unlimited liability
Difficulties of expansion
Limited managerial ability
Lack of continuity
Operational disadvantages
Loss in absence
Absence of specialization

11. EXAMPLES OF SOLE PROPRIETORSHIP
Zia Company
Zia & Company is a family managed business established
in 1989 with the sole aim of manufacturing and exporting
quality Scissors and Surgical Instruments. We are based
in Sialkot City which is one of the major industrial centre
of Pakistan. Sialkot
Alfalah CNG
Alfalah Filling & CNG Station, part of Polani Group of
Companies is located in Karachi Pakistan. We are dealing
in IMW, Compair, Safe, Amwardi & All China CNG
Compressors and CAT Engine Parts, which are imported
from renowned companies around the wor ...

13. “PARTNERSHIP”
 Partnership is an association of two or more
persons to carry on as co-owner a business for
profit .

14. FEATURES OF PARTNERSHIP
 Atleast two partners
 Agreement
 Profit

16. ADVANTAGES OF PARTNERSHIP
 Ease of formation
 Larger capital
 Combined judgement and skills
 Personal interest
 Definite legal status
 Tax saving

17. DISADVANTAGES OF PARTNERSHIP
 Unlimited liability
 Lack of continuity
 Interpersonal conflicts
 Dissolvation

18. EXAMPLE OF PARTNERSHIP
“Coca Cola’s Partners”

19. EXAMPLE OF PARTNERSHIP
“Unilever’s Partners”

21. “CORPORATION”
The business that stands as a legal entity with
assets and liabilities separate from those of its
owners. There are unlimited number of
shareholders, upto 75 shareholders for S
Corporations.

22. ADVANTAGES OF CORPORATION
 Limited liability
 Transfer of ownership
 Wefficiency of management
 Large size
 Ease of expansion
 Long life
 Legal entity

23. DISADVANTAGES OF CORPORATION
 Taxation
 Organizational expenses
 Government restictions and reports
 Lack of secrecy

24. EXAMPLES OF CORPORATION