A business is defined as any unincorporated company or other entity organized for the purpose of conducting commercial, professional, or agricultural activities. Companies may be either for-profit or non-profitable organizations that conduct business to meet a social purpose or further social causes. The activities conducted by such companies may include the production and marketing of products or services, real estate investment and management, sales and distribution of goods and services, banking and accounting activities, and communications activities. Some states also include in their business statute the term “enterprise”, which refers to the separate legal formation of an enterprise separate from the individuals or entities that form part of it. Under the law, there is usually a distinction between corporate and partnership duties. A corporation may carry on many of the same corporate business practices as a partnership at times, including managing its business affairs, executing its management policies, exercising its control and management powers, and participating in its investment activities, though it generally is not permitted to perform the same acts as a partnership.
Businesses may be either of two types: retail or service businesses. Retail businesses, such as stores and shopping centers, are generally large and complex affairs with many different actors. Service businesses, on the other hand, are usually smaller and are easily managed. A main article relating to businesses is that they create and make profits. Although profit is the object of most businesses, the main article relating to business profit is that they can create as well as transfer profits to other individuals or entities.
Private organizations are called corporations but, in the main article, are regarded as separate entities from their owners and operators. They have a particular function or activity and may be either personal or for-profit. The main article relating to businesses in the corporate law is that they normally create and make profits by the operation of their various activities. Business corporations are created to exercise economic control over a venture. This allows them to exercise greater control over the use of their assets, capital, and incomes and enables them to retain ownership of the assets they acquire.