Business 101: Types of Businesses

Business 101: Types of Businesses

For our resource, a huge thanks to McGraw Hill Education’s, Understanding Business 11th Edition. This is our required textbook for our business students at Clark College. Being that this is my office hour, you can follow along with me. This is Business 101: Types of Businesses.

Here are the definitions I covered:

Conventional (c) Corporation– a state-chartered legal entity with authority to act and have liability separate from its owners.

S Corporation– a unique government creation that looks like a corporation but is taxed like sole proprietorships and partnerships.

Limited Liability Company (LLC)– a company similar to an S corporation but without the special eligibility requirements.

Conglomerate Merger– the joining of firms in completely unrelated industries.

DISCLAIMER: These are my thoughts and views on business, and is not affiliated in any way with Clark College.

I write this because my business is personal because this service is for the advancement of all humanity. My failures and successes are for your gain. No strings attached.

Nathan A. Webster, MBA

I was born, raised and currently residing in Vancouver, WA. Grateful to have an entrepreneurial life that allows me to use my God-given talents to help others pursue their passion. I'm blessed to be educated (MBA-Operations) veteran (US Marine Corps) who enjoys the community with all my family members (blood and adopted).

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