Module 1 - Intro To Lab Management
Module 1 - Intro To Lab Management
Additional Notes:
A business is an organization that uses economic resources or inputs to provide goods or services to customers in exchange for money or other goods and services.
In addition to those basic forms of business ownership, these are some other types of organizations that are common today:
Limited Liability Company
Limited liability companies (LLCs) in the USA, are hybrid forms of business that have characteristics of both a corporation and a partnership. An LLC is not incorporated; hence, it is not considered a corporation.
Nonetheless, the owners enjoy limited liability like in a corporation. An LLC may elect to be taxed as a sole proprietorship, a partnership, or a corporation.
Cooperative
A cooperative is a business organization owned by a group of individuals and is operated for their mutual benefit.