Business Structures Internal Revenue Service

A cooperative differs from a corporation in that it has members, not shareholders, and they share decision-making authority. Cooperatives are typically classified as either consumer cooperatives or worker cooperatives. Cooperatives are fundamental to the ideology of economic democracy. In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business. The three most prevalent types of for-profit partnerships are general partnerships, limited partnerships, and limited liability partnerships. Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business.

• If you do not want your e-mail address released in response to a public records request, do not send electronic mail to this entity.
• The trade union, through its leadership, bargains with the employer on behalf of union members and negotiates labor