Business Types 1. Sole proprietorship: Owned by one person Most common form Easy and relatively inexpensive to start

2. Partnership: Business owned by two or more individuals. Can be many people, but the business does not sell stocks. Joint Ventures: Temporary partnership to do a job.

3. Corporations: Owned by many stockholders Started by a founder who must get a charter from the state gov’t https://www.youtube.com/watch?v=HKPzvkKsXmg

One Kind of Corporation… Franchise: A business uses an already established name Franchiser: Sells the name. Help train employees and set up the business. Franchisee: Person buying the name. Pay a start-up fee and an annual fee.

Create your own business! Pick a good or service to provide Can be real or imaginary Choose a company name Create a jingle from your company slogan Act out an advertisement for the class

The advertisement is a GRADE! Rubric that will be used to calculate your group grade on this project

The Stock Market Stock: Individual ownership in a corporation. Dividends: share of a corporation’s profits Capital Gain: when stock is sold for more than it originally cost Rule: Buy low, sell high

Stock Worksheet

Responsibilities of Business To Consumers Products that are safe Should work as promised Be truthful with advertising Treat all customers fairly

To Owners Transparency Regular public release important financial information to stockholders Full disclosure to investors i.e. Enron

To Employees To the Community Safe workplace Treat all workers fairly Social responsibility: the obligation to pursue goals that benefit society as well as themselves