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Business

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A business (also called a company, enterprise or firm) is a legally recognized organization designed to provide a good or service to a consumer, another business or to an institution like a government, non-profit organization or educational institution. Businesses are predominant in capitalist economies, most being privately owned and formed to earn profit that will increase the wealth of its owners and grow the business itself. The owners and operators of a business have as one of their main objectives the receipt or generation of a financial return in exchange for work and acceptance of risk. Notable exceptions include cooperative enterprises and state-owned enterprises. Businesses can also be formed not-for-profit or be state-owned.

Basic forms of ownership

Although forms of business ownership vary by jurisdiction, there are several common forms:

See Also

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