iamjohns

In business there are three types of "ships" solepropitoriship , partnership , and corporation
in the partnership it has some characteristics :
1.mutual agency
2.assocation of indiviudals
3.limited life
4.unlimited liability
5.co-owners' property
in the corporation it has some characteristics:
1.separate legal existance
2.limited liability of shareholders'
3.transferable ownership rights
4.the ability to acquire capital
5.continious life
6.corporation management
7.government regulations
8.additional taxes