These include:

• An individual purchases the business of a sole proprietor;

• An existing sole proprietor buys the business of another sole proprietor;

• A partnership acquires the business of a sole proprietor;

• A partnership acquires the business of another partnership (this happens quite a lot in accounting partnerships);

• Existing businesses of sole proprietors join together to form a partnership;

• A limited company takes over the business of a sole proprietor; • a limited company takes over the business of a partnership.