Types of companies – Typy przedsiębiorstw – Angielski

Nowadays we can distinguish different types of companies in terms of their profile, size or ownership.

If it comes to the ownership, which means a legal status there can be: a sole trader, a partnership, a limited liability company, a public limited company and a franchise.

As concerns a sole trader, here the business is run by one, self-employed person with unlimited liability.

A partnership in turn means the business run by two or more people together, e.g. lawyers, architects, auditors etc.

Another type of business is a limited liability company. Here there is a legal disctinction between the company and the owners. The company is responsible for any debts and the owners have limited liability. This is usually small, family-run business without selling shares to the public. The company name is followed by Ltd.

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