Exploring Business Ownership

Exploring Business Ownership

Learning Objective

Understand the different forms of business ownership and their characteristics.

What do you already know about business ownership?

What is Business Ownership?

Business ownership refers to the legal structure of a business entity and the individuals or groups that own it.

Types of Business Ownership

Sole proprietorship, partnership, corporation, and cooperative are the main types of business ownership.

Sole Proprietorship

Owned and operated by a single individual. The owner is personally liable for the business's debts.

Partnership

Owned and operated by two or more individuals. They share profits, liabilities, and management responsibilities.

Corporation

A separate legal entity with shareholders. Owners have limited liability and the business can continue beyond the life of its owners.

Cooperative

Owned and operated by the people who use its services. Members have a say in the decision-making process.

Choosing the Right Ownership

Consider the size, nature, and goals of the business when choosing the most suitable form of ownership.

Conclusion

Recap the different forms of business ownership and their characteristics. Emphasize the importance of choosing the right ownership for a business.

Write down 3 things you learned in this lesson.

Have students enter three things they learned in this lesson. With this they can indicate their own learning efficiency of this lesson.

Write down 2 things you want to know more about.

Here, students enter two things they would like to know more about. This not only increases involvement, but also gives them more ownership.

Ask 1 question about something you haven't quite understood yet.

The students indicate here (in question form) with which part of the material they still have difficulty. For the teacher, this not only provides insight into the extent to which the students understand/master the material, but also a good starting point for the next lesson.