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Rockefeller's innovative business structure was the ______. multiple choice question.

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Rockefeller's innovative business structure was the Trust. See more explanation below.

What type of organizational structure is "The Trust"?

A trust is a relationship in which a trustee (either a human or a firm) conducts business for the benefit of others (the beneficiaries).

For example, a trustee may run a firm for the benefit of a certain family and distribute the annual earnings to them. A trust is not a distinct legal entity.

Who is Rockefeller?

John Davison Rockefeller Sr. was a philanthropist and business entrepreneur from the United States. He is usually regarded as the wealthiest American of all time and the wealthiest individual in contemporary history.

He founded the Standard Oil Company and grew into one of the world's wealthiest individuals as well as a significant philanthropist. Born from humble circumstances in upstate New York, he joined the budding oil sector in 1863 by investing in a refinery in Cleveland, Ohio.

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