Lesson 6: Types Of Business Ownership

COURSE MATERIALS:Please read the following sections contained in the online textbook Boundless Business:

Types of Business Ownership

https://courses.lumenlearning.com/boundless-business/

ASSIGNMENT:Please respond to the following

  1. Define the following types of business ownership.
    • Sole Proprietorship
    • Partnership
    • Corporation
    • Limited Liability Company
  2. For each type of ownership listed in #1 above, list the pros (advantages) and cons (disadvantages).  Be sure to pay close attention to owner liability and tax treatment for each type of business ownership.

Requirements:Minimum Page Length – 1 full-page (excluding title/header and reference list); 12-point Times New Roman; double spaced; and page numbering.

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