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WordNet-Online
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Definitions from the WebForms of OwnershipDefinition:Forms of Ownership refers to the various legal structures or arrangements under which an individual or entity holds, possesses, or has rights to use a particular asset or property. Senses:Sense 1 (General):In a general sense, forms of ownership encompass different ways individuals or groups can legally own, control, or hold assets. Sample Sentence:Understanding the various forms of ownership is crucial when starting a business, as it helps determine the level of liability an entrepreneur has. Sense 2 (Property):Specifically related to property, forms of ownership are the different legal arrangements by which people can hold or possess land, buildings, or other real estate. Sample Sentence:Joint tenancy and tenancy in common are two common forms of ownership for property owned by multiple individuals. Sense 3 (Business):In the context of business, forms of ownership refer to the legal structures or types of businesses, such as sole proprietorship, partnership, corporation, or limited liability company (LLC). Sample Sentence:A sole proprietorship is the simplest form of ownership for a small business, while a corporation offers greater protection against personal liability. Related Products: | ||||
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