Legal Answers
Brien Roche Law > Legal Answers > What Are the Different Types of Businesses
« Go back to Frequently Asked Questions

What Are the Different Types of Businesses

Fairfax Injury Lawyer Brien Roche Addresses What Are The Different Types of Businesses

Brien Roche

There are many different types of business ownership, and an injury attorney needs to be sensitive to these different forms of business organization to make sure that the correct entity has been brought before the court.

What Are The Different Types Of Businesses?Sole Proprietorship

A business can operate as a sole proprietorship which simply means that it is an extension of the human being who formed the business. For instance, Joe Jones doing business as the ABC Company may be a sole proprietorship. What that means is that the only legal entity that is involved in that business is Joe Jones himself. The ABC Company is simply a trade name or what some people call a fictitious name for Joe Jones himself.

What Are The Different Types Of Businesses? Partnerships and Corporations

Other forms of business organization are partnerships, corporations, limited liability companies and limited liability partnerships. There are other forms of organization but those are the most common ones. Most people before going into business form either a corporation or a limited liability company because that provides them with some protection from contract liability. That is, if the corporation enters into a contract which is not guaranteed by the people that are involved in the corporation then the only entity that is liable for that contract is the corporation itself. There are also other potential advantages in terms of forming a corporation for the pursuit of business interests.

In a general partnership the partners may be jointly liable for any liability that attaches to the partnership.

What Are The Different Types Of Businesses? Personal Injury Claims

Knowing the form of business organization of the defendant is important in personal injury claims and in all other types of claims because the nature of the business organization may have some impact on your ability to recover money if it turns out the defendant is uninsured or underinsured.

Contact a Personal Injury Attorney

Legal answers provided by Brien Roche, a personal injury attorney with over 35 years of trial experience. Contact Us today to discuss your personal injury matter.

For more information about business organization see the pages on Wikipedia.

Contact Us For A Free Consultation

What Are the Different Types of Businesses

Contact Us For A Free Consultation

Contact Us For A Free Consultation