| Questions | Answers |
|---|---|
| Consists of between 2 and 20 owners. | Partnership |
| The Owner keeps all of the profits | Sole Proprietorship |
| Owners have limited liability - they only stand to lose what they invest. | LLC |
| Needs to be registered with the State and Federal Government. Very expensive to form. | Corporation |
| Give 3 examples of some niche businesses. | |
| Bonus: What is an Independent Contractor? List 3 examples |