Which business structure is owned by two or more people?

Which business structure is owned by two or more people?

• A. Sole Proprietorship
• B. Franchise
• C. Partnership
• D. Corporation

Answer: (C)

Partnerships are defined by shared ownership among two or more people who run and profit from the business. In a partnership, owners contribute resources, share profits and losses, and participate in management according to an agreement. This contrasts with a sole proprietorship, which has a single owner, and a corporation, which is a separate legal entity owned by shareholders (who may be many, but the ownership structure is different). A franchise isn’t a ownership form by itself; it’s a licensing model used under a brand’s system. So the structure that directly implies ownership by two or more people is a partnership.

Partnerships are defined by shared ownership among two or more people who run and profit from the business. In a partnership, owners contribute resources, share profits and losses, and participate in management according to an agreement. This contrasts with a sole proprietorship, which has a single owner, and a corporation, which is a separate legal entity owned by shareholders (who may be many, but the ownership structure is different). A franchise isn’t a ownership form by itself; it’s a licensing model used under a brand’s system. So the structure that directly implies ownership by two or more people is a partnership.