* Compare and contrast the major forms of business ownership * Explain the advantages and disadvantages of each major form of business ownership * Explain how a particular business is best served by a particular form of business ownership

* Arbitrator * Corporation * Double Taxation * Liability * Limited Liability Company * Limited Partnership * Partnership * Pass-through income tax * Shareholder * Sole Proprietorship

* Download: Worksheet: Types of Business Ownership * Complete column A only * You will learn about the five basic forms of ownership that businesses can take * You will learn reasons why each of the five is best for a particular type of business

* Download: Guide- Types of Business Ownership * Complete column B using your best guess * Sole proprietorship * Partnership * Corporation * Limited liability partnership * Limited liability company

Sole Proprietorship PartnershipCorporationLLPLLC

* Download: Assignment- Business Ownership Case Study * 2 days to find business * 1 week to set up and complete interview * If more time needed due to OWNER’s issues let me know, I will follow up with owner. * 1 week to write rough draft of case study and final draft for the case study. * 1-2 pages, 12 pt. font, times new roman, 1” margins, double spaced

* During a class field trip at a local candy manufacturing corporation, one of the students slips on a puddle of chocolate syrup leaking from a giant vat and breaks her arm and her leg. This student happens to be the softball team’s star pitcher and had a scholarship to play softball at Florida State University. The student sues the candy company and wins $1 million in compensation. Who is responsible for paying the $1 million? The CEO? The board of directors? The factory worker whose job it was to clean the spill? Or someone or something else?

* Presentation

* Revisiting the example * Who is responsible for paying the $1 million? * The CEO? * The board of directors? * The factory worker whose job it was to clean the spill? * Or someone or something else?

* The corporation is at fault * Held liable for any financial costs that a court awards the hurt student or legal penalties that the court or a government agency levies against the company * CEO and factory workers safe from personal financial burden * Job and compensation may be at risk

* Different ways that companies can be funded and owned * Download: Worksheet- Who Has a Stake in a Company? * Answer first 3 questions individually stop and discuss * Answer next two in a group

* Download: Interview Guide- Business Ownership * 2 questions for each section * Work individually * Work in groups to compare and contrast questions for refinement

* Arrive on time/ early * Call ON TIME (not early or late) within 5 mins * Maintain a professional demeanor * Dress and mannerisms * Thank your interviewee for his/her time * Do not assume your seat, wait to be asked to sit * Shake hand if offered while looking into eyes * Try to pay compliment to business

* Complete section 2 of your interview guide * Compile information and make your recommendation * This is used as a draft to be turned in with your completed paper

* Download: Example- Business Ownership Case Study * Review and use as a guide for what to include in your final draft

* At your tables present your case study reports * Download: Form- Presentation Feedback * Drop in drop box after table presents

* What is a company or industry you are interested in working or starting a business? * Which type of business structure would make the most sense for your new company, and why?

* Recent growth in the private equity industry has led to a trend of taking once-public companies private. * Choose a recent transaction (one that has taken place in the last five years) and use that example to frame a report about how this change in ownership structure impacts a company

* Foreign Languages: Research forms of ownership in a foreign county based on the language you take or have taken at GCIT * Draw information about the forms of ownership available in a particular country in both the language of that country and in English and then set up a table that compares those forms with those we find in the United States