1. Business Types 1. Sole proprietorship: Owned by one person
Most common form
Easy and relatively inexpensive to start

2. 2. Partnership: Business owned by two or more individuals.
Can be many people, but the business does not sell stocks.
Joint Ventures: Temporary partnership to do a job.

3. 3. Corporations: Owned by many stockholders
Started by a founder who must get a charter from the state gov’t

4. One Kind of Corporation…
Franchise: A business uses an already established name
Franchiser: Sells the name. Help train employees and set up the business.
Franchisee: Person buying the name. Pay a start-up fee and an annual fee.

5. Create your own business!
Pick a good or service to provide
Can be real or imaginary
Choose a company name
Create a jingle from your company slogan
Act out an advertisement for the class

6. The advertisement is a GRADE!
Rubric that will be used to calculate your group grade on this project

7. The Stock Market Stock: Individual ownership in a corporation.
Dividends: share of a corporation’s profits
Capital Gain: when stock is sold for more than it originally cost
Rule: Buy low, sell high

8. Stock Worksheet

9. Responsibilities of Business
To Consumers
Products that are safe
Should work as promised
Be truthful with advertising
Treat all customers fairly

10. To Owners
Transparency
Regular public release important financial information to stockholders
Full disclosure to investors
i.e. Enron

11. To Employees To the Community Safe workplace Treat all workers fairly
Social responsibility: the obligation to pursue goals that benefit society as well as themselves