As a successful businessperson, Ben wanted to take the next…

As a successful businessperson, Ben wanted to take the next step to expand his mid-size company internationally. He knew he didn’t have enough capital and know-how to get into foreign markets. He contacted a former business associate who owned a garment manufacturing company in Australia. Together, they worked out a deal that would benefit both of their companies, with a relationship lasting no longer than one year.

Gina’s family-owned restaurant became so successful that she…

Gina’s family-owned restaurant became so successful that she wanted to open two additional locations. To raise the money needed for expansion, she decided to incorporate the business. Instead of selling stock to the general public, Gina sold shares only to a small group of trusted family members and close friends who wanted to invest in the company. The business remained privately owned, and ownership was limited to these select investors. What form of business ownership does this scenario represent?