Forms of Ownership
A business owned and operated by just one single individual, who is fully responsible for all operations, profits, and losses.
What is a sole proprietorship?
A business that has been granted an official legal status, giving it rights, privileges, and liabilities completely distinct from its employees.
A type of corporation where only a few individuals control all the stock, and the shares are strictly not listed for sale on a public stock exchange.
Short for "electronic commerce," this term describes the system where consumers and sellers conduct business online without meeting face-to-face.
This global electronic financial process was purchased by eBay in 2002 to inspire massive transaction confidence in the online trading marketplace.
What is PayPal?
This major legal disadvantage means a sole proprietor's personal savings, home, and personal belongings can be seized to pay off business debts.
The ownership of a large corporation is divided into these small, individual units which are bought and sold on a stock exchange like the TSX.
A business model owned and run democratically by its workers or members, operating with a primary motive of service rather than making a profit.
This fundamental digital storefront asset is the very first thing an electronic business needs to build in order to conduct transactions.
What is a website?
This acronym stands for "small office home office," which describes the booming sector of home-based modern businesses.
What is SOHO?
A legal structure operated by two or more individuals who want to share the financial costs and daily responsibilities of running a business.
What is a partnership?
This is the term for the individuals or groups who buy shares in a company, officially making them part owners of that corporation.
No matter how many individual shares they may own in a co-operative, each member is strictly limited to this maximum number of votes.
A catchy, simple Internet address that an online business establishes so that potential customers can find them professionally on the web.
In multiple user research surveys, these two distinct issues were cited as the primary reasons consumers hesitate to hit "buy" online.
What are unreliable retailers and privacy concerns?
In this specific partnership type, some partners have limited liability, meaning they are only responsible for losing the exact amount they originally invested.
What is a limited partnership?
A portion of a corporation's profits that is distributed directly back to its shareholders on a regular per-share basis.
A unique type of business operated directly by a provincial or federal government to provide public utilities or services, such as VIA Rail or Canada Post.
What is a Crown corporation?
Unlike a traditional "bricks and mortar" store with set closing hours, e-businesses generally remain open during this continuous time frame.
What is 24 hours a day, seven days a week (or 24/7)?
A comprehensive online database created by the federal department Industry Canada to give entrepreneurs free access to data on over 50,000 businesses.
What is Strategis?
Franchises are frequently classified as this type of ownership because they combine several operational features from other business models.
This specific body of elected officials is put into place by the shareholders to oversee management and run the corporation.
Towns and cities can incorporate to form this exact type of corporation, specifically designed to deliver vital infrastructure and services to local citizens.
To complete digital transactions seamlessly, an online storefront must integrate a secure method to complete this vital checkout process.
Sir Timothy Berners-Lee was knighted in 2004 for his monumental historical role in officially launching this global network on August 6, 1991.