Definition
-Shareholding company with shares traded in the stock market: a firm’s shares are publicly traded on the stock market. Firms in this category have limited liability.
-Shareholding company with shares traded privately: shares are not traded or they are traded only privately. Firms in this category have limited liability.
-Sole proprietorship is a business owned and operated by one individual natural person; that is a real human being, as opposed to an artificial legal entity such as a corporation or organization that the law treats as if it were a person distinct from its members or owner(s). This is regardless of whether or not the establishment has limited liability.
-Partnership allows two or more people to share profits and liabilities, with or without privately held shares. Parties can be individuals, corporations, trusts, or a combination of the above. Partners have unlimited liability in these firms.
-Limited partnership includes general partners and one or more limited partners who invest capital into the partnership, but do not take part in the daily operation or management of the business. Limited partners limit their amount of liability to the amount of capital invested in the partnership. The general partners personally shoulder all debts and obligations of the partnership.
-Other must be specified in writing. This variable should be codified after field work is finished to make sure that “other” does not include establishments that can be included in forms 1-5
