Selecting A Form Of Business Ownership
Selecting A Form of Business Ownership
Outline
Introduction
A. The Learning Goals of this chapter are to:
1. Describe the advantages and disadvantages of a sole proprietorship.
2. Describe the advantages and disadvantages of a partnership.
3. Desribe the advantages and disadvantages of a corporation.
4. Explain how the potential return and risk of a business are affected by its form of ownership.
5. Describe methods of owning existing businesses.
B. One of the most important decisions an entrepreneur must make when establishing a new business is the form of ownership. This chapter examines the major forms of business ownership and identifies ways investors can become owners of existing businesses.
I. Sole Proprietorship
A sole proprietorship is a business owned by a single owner. The owner is called the sole proprietor. About 70 percent of all firms in the United States are organized as sole proprietorships. However, since most sole proprietorships are small, they......
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Approximate Word Count: 2354
Approximate Pages: 10 (250 words per double-spaced page)
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