Running Head: Case Study 1
Case Study 1
Southern New Hampshire University
BUS 307
Running Head: Case Study 1
To: Fred and Sally (email Address)
Subject: “Fred’s Miracle Cough Syrup.”
Dear Fred and Sally,
Main Types of Business Entities
The main types of business entities consist of sole proprietorship, partnerships,
and corporations. If you decide to go into business on your own and make all decisions a
sole proprietorship would be established. This business type has few legal formalities,
and you keep all funds. However you are also responsible for all liabilities and have
limited funds. The owner is not a separate entity from the business you are one and the
same. A partnership is a voluntary business association between two or more people who
co-own a business with mutual consent of making profits. This business is characterized
