Title: Compare different types of business ownership.
Course: Marketing (12164) > Section: Understanding Economics in Organizations

Comparison should incorporate an explanation of the advantages and disadvantages of the different types of business ownership, including

- sole proprietorship
- partnership
- limited liability company
- corporation (e.g., private/closed, public)
- franchise
- joint venture.

Process/Skill Questions:

- What are the advantages and disadvantages of each type of business ownership?
- What examples from the local community represent each type of business ownership?
- What is unlimited liability? How does it affect a business owner?
- What are two forms of partnerships? How are they different from one another?
- What is the purpose of articles of incorporation?
- What are several types of licenses a business might need to obtain? Why would each be necessary?
- How do shareholders participate in business operations?
- How can companies grow?