Intro to Business – 10/30/09
I. Bell work
- Provide one example of a producer, an intermediary and a service business.
II. Objectives:
- Understand the three major forms of business ownership
- Determine when each form of business ownership is most appropriate
- Recognize other specialized business ownership forms
III. Notebook
5-2 Forms of Business Ownership
A. Business Ownership-
1) Frame the Advantages & Disadvantages of each in your notebook
a) Proprietorship
b.) Partnership
c.) Corporation
B. Other Forms of Ownership
1) Specialized Partnerships and Corporations
a) Limited Liability Partnership
Explain
b) Joint Venture
Explain
c) S-Corporation
Explain
d) Limited Liability Company
Explain
e) Nonprofit Corporation
Explain
C. Cooperatives and Franchises
1) Cooperative
Explain/Example
2) Franchise
Explain/Example
a. Franchiser
b. Franchisee
IV. Classwork
A. Terms (6)
B. Checkpoint Question and Answer (3)
C. Page 113 (1-4)
D. Five True and False Questions
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