1. Forms of Business Ownership

2. Objectives Describe each form of business ownership
Explain why there are different forms of business ownership
Compare the advantages and disadvantages of each type of business ownership

3. Key Vocabulary Corporate by-laws Corporations Entrepreneur
Limited Liability
Limited Liability Company
Partnership
Partnership agreement
Sole proprietorship
Unlimited liability

4. Forms of Business Ownership
As a group create a list of businesses that they are familiar with
Which two businesses create the most revenue?

5. Business Ownership and Revenue in the United States
Sole Proprietorships
Data reflect the total revenue and business ownership for the year 2000.

6. Forms of Business Ownership
75% of all US businesses operate as proprietorships and account for 11% of total revenue or dollar sales
18% of all US businesses operate as corporations and account for 85% of total revenue or dollar sales
9% of all US businesses operate as partnerships and account for 4% of total revenue or dollar sales

7. Forms of Business Ownership
Predict where the two businesses that you circled from your list would fall in terms of business ownership
If corporations generate 85% of the total revenue, why would most businesses be organized as proprietorships?
There are positive and negative aspects to all forms of business ownership

8. Forms of Business Ownership
Download: Reading- Forms of Business Ownership
Use the defining format to define each type of business
Term
Category
Characteristics
A sole proprietorship is a
Form of business ownership that 1. 2. 3.

9. Forms of Business Ownership
If corporations generate 85% of the total revenue, why would most businesses be organized as proprietorships?

10. Quiz Prep Short answer quiz on the forms of business ownership
Discuss one positive and one negative aspect of each form of business ownership.
Share an example of a business that seems to fit the particular type of business ownership (the Hershey Company vs. the mom and pop candy shop around the corner).

11. Quiz
Quiz time 30 mins

12. Forms of Business Ownership
Think about your project topic and of the different ways they will be communicating information about the topic to the audience at the financial literacy fair
Display board
Brochure
Talking about the topic
What have you learned in this lesson that can help you improve your culminating project products?
Identify and describe three ways in which the information you’ve learned in this lesson could improve your culminating project products.
List the places you’d like to make the edits. That is, identify which product or products should include the new information.

13. Enrichment
Browse the information located on the US Small Business Administration website ( to learn how an entrepreneur can plan, organize, and finance a business.

14. Enrichment
Research other business ownership structures such as S corporations, government-owned corporations, not-for-profit corporations, joint ventures, etc
Create brochures representing each form

15. Enrichment
Professional sports teams can be owned by individuals, partners, and even companies
Research a specific professional sports team and write a summary that describes the team and includes the current form of business ownership that the team has as well as any ownership changes that have taken place in the past. (

16. Cross-Curricular Integration
Social Studies: Choose a country and research the three most popular forms of business ownership for their particular geographical region
Create bar graphs (similar to the one presented in Class Period 1) that depict the three most popular forms of business ownership along with the total amount of revenue that is generated.
Share their findings with the class, and then compare your results.