Business?

A business in any investment from which u will expect a profit. Business is any work in which the intention of the person is to get return profit. A business can be anything but business can easily defined in 3 categories.

1: Manufacturing
2: Trading
and
3: Services.

Businesses are distributed into ownerships. Ownership means who is the people or the group of peoples running a business. Ownership can differs as follows:
Sole Proprietorship, Partnership, Corporation.

Sole Proprietorship means a single person is whole and sole responsible for all his affairs in business. If he gets a profit he is the responsible for it and if he gets a loss then he is responsible for all of it and creditors may come to his house for recollecting a payment.

Partnership means that there is more than one person. They all are liable for all of their affairs. One partner is agent of another partner. Partnerships can differs like this, Partnership, Limited Partnership and Limited Liability Partnership. In Partnership all partners are liable.

Corporation or Company means that the owner of the company is share holders and the directors of the company are just a management. Company members are not liable of any Liability. There are two types of companies one is public and other is Private. Company is a legal entity.