1. TOPIC: Topic 1: Business Organization and Environment
LESSON TITLE: Types of Ownership (Legal Structures)
COMPETENCY FOCUS:
Entrepreneurship (S4): To develop your entrepreneurial skills in preparing a realistic proposal for a new business start-up. You will understand the process a business will have to go through when starting up, including the underlying principles of starting a business.  
[IB Learner Profile Development: Inquirer]
Learning Objectives
By the end of the lesson, you should be able to…
LO1) Identify the different legal structures of a business
LO2) Describe the main features of each type of legal structure
LO3) Analyse the impact of division of ownership and control for different business ownerships.
SMSC: You will assess the organisational culture of businesses in terms of fundamental structure, purpose and strategy development.
CRITICAL THINKING KEY:
Knowledge Application Analysis Evaluation

2. Different Types of Ownership
‘The Body Game’ to represent different types of business ownership. [10mins]

3. Research Task
You will each be given a different type of business ownership. You are to conduct your own secondary research, where you will present your findings to the rest of the group. It is up to you how you will present this information.

4. Type of Business Ownership Features of that type of ownership
Research Task
You will need to complete the following table:
Type of Business Ownership
Features of that type of ownership
Advantages
Disadvantages
Soletrader
E.g. window cleaner, milkmen, trades people.
A private business owned by one individual.
They keep all profits and have total control over the business.
Partnership
E.g. solicitors, doctors, dentists, estate agents
Private-limited company (Ltd)
Public-limited company (Plc)
Worker Co-operatives
Charitable Trusts

5. Group Presentations
As each group is presenting, complete the rest of your table for your own revision notes.

6. Now, continue to write your business plan
Contents of a Business Plan:
Executive summary
Description of the business
Aims and objectives of the business
The business opportunity
The market
Personnel/Staffing
Buying/Production
Premises/equipment
Financial Forecasts/Accounts (including start-up finance)

7. Exam Practice
Read case study on Pg. 21 ‘The Google Phenomenon’. Respond to exam questions. [30mins]

8. Extended Study
Consider the advantages and disadvantages for a Private-limited Company changing to a Public-limited Company. [15marks] Plan= 30mins Essay= 90mins

9. Reflection
Reflect on what you have learnt this lesson. What do you need to know more about?