What is the definition of commercial business?


A commercial business is an entity created and sustained to provide goods or services. A commercial business is also known as a commercial enterprise in the United States and some other nations.

A commercial business may have one owner upwards to a virtually unlimited number of owners, depending on its organizational structure. For example, a sole proprietorship by definition is technically owned by one person but may have may have multiple owners. A corporation may have any number of shareholders as permitted within the entity's articles of incorporation. Commercial businesses commonly are legally organized as sole proprietorships, partnerships, limited liability companies or corporations.

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