The term “Business” refers to any entity chartered or authorized by the government to carry out specific activities. A business is generally defined as any entity organized for profit, for the purpose of earning profit, or to engage in a business enterprise for the purpose of making a profit. Business enterprises may be either for-profit or non-for-profit entities that operate to meet a social cause or further a socially responsible purpose. The activities of a business are normally the outcome of individual entrepreneurship, although sometimes certain circumstances may require the involvement of a government or other bodies. Examples of typical examples of businesses include retail enterprises, financial organizations, manufacturing concerns, and others.

A business may be conducted onshore or offshore. For instance, “onshore” businesses are those that earn their revenue from sales within the country where they are located. Examples of “offshore” businesses include brokers, insurance companies, property agents, and others. On the other hand, “offshore” businesses refer to those that receive revenues from selling their products and services outside the country where they are incorporated. This article discusses mainly main article types of businesses.

The first main article type is corporations. Corporations may be sole proprietorships, limited liability companies, partnership, general partnership, or any combination thereof. Some countries have legal traditions that regard corporations as legal entities separate from the people who own them. In these cases, the main article for such businesses is the ability of the institution to undertake contracts and corporate law.

The second main article for corporations is their liability. A corporation can be individually and jointly or Privately Owned. A corporation is only liable for its own liabilities, unlike a company (which is responsible for its own directors, employees, and shareholders) or a partnership (which is responsible for itself and its partners).

The third main article in relation to corporations is ownership. A corporation is considered an entity by commercial law. This means that it has characteristics of a public corporation while also possessing private features. These private characteristics are referred to as personal assets. They can only be owned by one person, unless they are publicly traded corporations.

The fourth feature which concerns corporations is that it is publicly held business. It is true that most corporations are formally registered with the government as public corporations. However, many corporations are privately owned and they operate through their shareholders. Only a few corporations are formally registered as public corporations and they only have limited liability.

The fifth and final feature of a publicly traded corporation relates to dividends. A company limited by equity (the shares of which have been issued for the benefit of the company limited by equity) will pay out profits to its shareholders. Sometimes the profits will be made out of the profits of the main company. Other times the profits will come from stock sales or from a variety of stock transactions. Usually though, a corporation will make money from a combination of its stock and profits.

Finally, the sixth and final feature is profit sharing. A profit sharing plan is a company voluntary arrangement between the corporation and its shareholders. The shareholders will each receive a percentage of the profits that the company makes. This is called a dividend. While this doesn’t happen in all kinds of businesses it does happen in many highly successful businesses. It is especially seen in the internet and technology industries where there are often large mergers and acquisitions with other companies and thus a need for companies to share the profits they make between them.

Now that we have looked at six main features of business you might be ready to start your own business. Hopefully you will also be able to implement at least one of them. There are other things you can do to improve the quality of your business and therefore to increase the value of your goods and services to your customers. That is another article though. But for now let’s look at what we have covered so far.

In part two we will talk about the creation of a company and achieving common goals within that company. We will cover how to choose your business model and how to build it in a way that maximizes your potentials for growth. Finally, we will discuss human resources and why the creation of a business union is important to business law and strategic management. So this is the main article on how to run your business.

I hope that this article has been useful in introducing you to the idea of creating an entity for your businesses. Some small businesses are sole proprietors and others may be partnerships. One thing that they have in common is that they have different names that refer to the same entity. The other type of entity is a for-profit venture. A for-profit entity is usually a limited liability company or LLC that allows entrepreneurs to save tax liabilities.