1. Business Organizations By Mr Wasserman

2. Sole Propriertorship is a business owned by one person Advantage: you control your daily activities/ease of formation/single taxation Disadvantage: you can lose your business and personal belongings

3. Partnership is 2 or more owners of a business Advantage: more capital available/ Disadvantage: you cannot make decisions by yourself

4. Corporation is business that acts like a single person(it has many owners). You can buy shares of stock and become one of the owners. If you own 50 shares of stock you get 50 votes Advantage: potential of unlimited life. Your stocks can outlive you. Advantage: limited liability Disadvantage: you have to pay taxes twice.

5. Cooperatives are businesses that group together for a common purpose like like organic food companies to get foods at a lower price Advantage: get better prices when buying a product

6. Franchise lets you sell your products and services to another business Advantage: you are associated with a proven product Disadvantage: restrictions on how you run the business

7. The End…………………..