1. Types of Business Ownership 1 Discuss the sole proprietorship legal form. Explain the partnership legal form. Explain how the corporate form gives owners more protection from liability. Discuss the advantages and disadvantages of a C-corporation Describe a Subchapter S corporation. Compare nonprofit corporations to C-corporations. Explain the limited liability company. Discuss how to decide which legal form to use Section 7.1 Sole Proprietorships and Partnerships 7.1/7.2

2. Types of Business Ownership 2 sole proprietorship liability protection unlimited liability Section 7.1 Sole Proprietorships and Partnerships 7.1 partnership general partner limited partner corporation C-corporation shareholders limited liability 7.2 Subchapter S corporation limited liability company (LLC) nonprofit corporation

3. Sole Proprietorship Section 7.1 Sole Proprietorships and Partnerships 3 Advantages

4. Sole Proprietorship Section 7.1 Sole Proprietorships and Partnerships 4 Disadvantages

5. Partnerships Section 7.1 Sole Proprietorships and Partnerships 5 Advantages

6. Partnerships Section 7.1 Sole Proprietorships and Partnerships 6 Disadvantages

7. Types of Business Ownership 7 1. Discuss the sole proprietorship legal form. Section 7.1 Sole Proprietorships and Partnerships 7.1

8. Types of Business Ownership 8 2. Explain the partnership legal form. Section 7.1 Sole Proprietorships and Partnerships 7.1

9. C-Corporation Section 7.2 Corporations 9 Advantages

10. C-Corporation Section 7.2 Corporations 10 Disadvantages

11. Types of Business Ownership 11 1. Explain how the corporate form gives owners more protection from liability. Section 7.2 Corporations 7.2

12. Types of Business Ownership 12 2. Discuss the advantages and disadvantages of a C-corporation. Section 7.2 Corporations 7.2

13. Types of Business Ownership 13 3. Describe a Subchapter S corporation. Section 7.2 Corporations 7.2

14. Types of Business Ownership 14 4. Compare nonprofit corporations to C- corporations. Section 7.2 Corporations 7.2

15. Types of Business Ownership 15 5. Explain the limited liability company. Section 7.2 Corporations 7.2

16. Types of Business Ownership 16 6. Discuss how to decide which legal form to use. Section 7.2 Corporations 7.2