Individual or collective enterprise?

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In the case of Italy, different types of business forms are recognized, mainly divided based on the difference between individual, collective and family businesses.

distinction between legal forms

The first difference to consider when you decide to start a business concerns the way you operate your business.

In fact, this can be in individual or collective form.

A sole proprietorship is made up of a single person, who is the only one to contribute capital and make decisions regarding the future of the company.

In practice, the only person who forms the company is the sweden email list one who assumes the so-called business risk .

The collective enterprise is made up of several people, the partners, who collaborate in carrying out the company's activity.

Then there is a particular form of business, namely the family business.

A family business is made up of an owner, the only person responsible for the company's obligations, and one or more family members as collaborators.

Family members who collaborate in the business may be the spouse, relatives within the third degree and/or in-laws within the second degree.

Legal forms of business: partnerships
Partnerships are legal forms of business in which the liability of the partners is unlimited and joint.

But what does unlimited and joint liability mean?