1. Learning Objectives: To be able to define the types of business (E) To be able to analyse the advantages and disadvantages of the other types of business (C) To be able to evaluate the reasons behind running these types of business (A)

2.  Is a business agreement between a franchisor and a franchisee.  The franchisor is the business owner and agrees that the franchisee can trade using the business name and product range.  In return the franchisee must pay a royalty to the franchisor at a percentage of their sales.  Give some examples of franchises.

3.  What do you think these are?  Can you think of 5 examples?  What would be the advantages to running a business of this type?  What would be the disadvantages to running a business of this type?

4.  Using the textbook provided complete Activity 3 on p166

5.  These operate in the public sector.  The number of public corporations has decreased significantly over time due to the privatisation of many industries.  Can you think of any current public corporations?  Can you think of any businesses which used to be public corporations?

6.  Activity 4 on p167  Activity 5 on p168  EXTENSION: Exam Questions p168

7.  Co-ops are formed by members who all share a common goal. Profits and workload are all shared equally among members.  The main aim for a co-op is creating value for customers rather than earning money for shareholders.

8.  It is an alternative corporate business vehicle that gives the benefits of limited liability but allows its members the flexibility of organising their internal structure as a traditional partnership. The LLP is a separate legal entity and, while the LLP itself will be liable for the full extent of its assets, the liability of the members will be limited.  Legally an LLP is seen in a similar stance to an Ltd with just an internal structure of a partnership.

9.  List as many forms of business ownership structure as you can.  If you were to start a business which structure would you use? Why?  List 2 things you have learnt today  Ask a question about something you would like to know.