Examlex
Sears sells batteries under its own Diehard brand name even though another company actually produces these batteries. This is an example of a
Limited Liability Corporation
A business structure where the owners have limited personal liability for the debts and actions of the corporation.
Corporation
A corporation is a legal entity that is separate from its owners, offering limited liability to its shareholders and having the ability to own property, sue, and be sued.
Professional Corporation
A business entity formed by lawyers, doctors, accountants, and other professionals, offering certain tax and legal advantages.
Sole Proprietorship
A type of business ownership where a single individual owns, manages, and is responsible for all aspects of the business.
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