In this lesson, you learned about the three legal forms of business ownership: sole proprietorships, partnerships, and
corporations. You also learned about alternative types of business ownership including franchises, nonprofit
organizations, and cooperatives. All of these business forms have their own sets of rules, risks, and obligations.
Explain the advantages and disadvantages for each type of business ownership listed above. Then, choose the type of
business ownership that you personally would feel most comfortable participating in. Explain your choice.
Assignment Guidelines:
Your response should include the advantages and disadvantages of the six types of business ownership listed, along
with your choice and explanation. Your response should be approximately one-and-a-half pages long, double-spaced,
standard margins, and 12-point Times New Roman font.
Submission Requirements:
Submit a Word document containing your response to the assignment.
When submitting written assignments, please remember to:
• Submit the assignment question(s) with your responses.
• Proofread for spelling, grammar, and punctuation.
• Use complete sentence structure.
• Make sure paragraphs have at least six sentences.
Answers: 2
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In this lesson, you learned about the three legal forms of business ownership: sole proprietorships,...
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