sole Proprietorship - A business that is owned and operated by one person., liability Protection - Insurance against debt and actions of business., unlimited Liability - Full responsibility for all debts and actions of business., partnership - An unincorporated business with 2+ owners., general partner - A participant in a partnership who has unlimited personal liability., limited partner - A partner whose liability is limited., corporation - A business that is registered by a state and operates apart from its owners., c-corporation - An entity that pays taxes on earnings., shareholders - The owners of the corporation., limited liability - They are only liable only up to the amount of their individual investment., subchapter s corporation - A corporation that is taxed like a partnership., nonprofit corporation - A legal entity that makes money for reasons other than the owners’ profit., limited liability company - A company whose owners and managers enjoy limited liability and some tax benefits.,

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