• The bylaws state the purpose of the

organization and what it does. A sole

proprietorship does not have bylaws because
one person owns and controls the business
..
• Sole Proprietorship
• A sole proprietorship is a business
organization owned by one individual who
controls all aspects of the organization
• The organization uses a flow-through tax
structure with the owner's social
security number to pay taxes instead of having
to pay corporate taxes and individual taxes. 
 DISADVANTAGES
1. they have low start-up costs compared to
other businesses and bookkeeping is simple.
2. all the liability falls on the sole proprietor,
including his or her personal assets, in the
event of a lawsuit
• . While this type of organization is less
expensive to start, it is more difficult to raise
capital.
 PARTNERSHIP

• A partnership is an organization where two or

more individuals utilize their money, talent
and labor to build a company. When a partner
dies, the partnership ends.
• All partners personally share in the profit and
loss of the company. Taxes are paid by the
individuals. Partners are liable in the event of
lawsuit.
• The term "business organization" refers to
how a business is structured. The business
organization is defined in the bylaws when the
business is formed with the name and contact
information of those who own and run the
company with their roles defined
 CORPORATION

• A corporation is a business organization that

has shareholders and a board of directors that
govern how the organization will be run. The
shareholders are the owners. A corporation
will continue to exist even after a shareholder
dies. 
• Corporations have their own tax identification
number and file their own taxes. Owners are
taxed on dividends paid on corporate profits
and salaries paid by the corporation. Owners
are not held personally liable. Corporations
have the ability to raise large amounts of
capital by becoming a publicly traded security.
• To do so requires board approval with the
corporation meeting specific financial
requirements outlined by the Securities
Exchange Commission.
• A cooperative (also co-operative; often
referred to as a co-op or coop) is defined by
the International Co-operative Alliance's 
Statement on the Co-operative Identity as an
autonomous association of persons united
voluntarily to meet their common economic,
social, and cultural needs and aspirations
through a jointly-owned and democratically-
controlled enterprise.[1] 
• It is a business organization owned and
operated by a group of individuals for their
mutual benefit.[2] A cooperative may also be
defined as a business owned and controlled
equally by the people who use its services or
who work at it. Cooperative enterprises are
the focus of study in the field of 
cooperative economics.