TASK

• Discuss the issues that entrepreneurs should consider when evaluating different forms of ownership.
• Describe the advantages and disadvantages of the sole proprietorship, partnerships, and corporations.
• Describe the features of the S corporation and the limited liability company.
• Discuss the alternative options for corporate forms, both for-profit and non-profit, available to social entrepreneurs.

2.2 Action Required:

• Watch the short video at the following link

https://www.youtube.com/watch?v=0k8ljlnBAQIT News) – YouTube

 

2.3 Test your Knowledge (Question):

• What is a sole proprietorship? What drawbacks should be considered?

• 3.1 Learning Outcomes:
  • Explain the importance of franchising in the U.S. and global economy.
  • Define the concept of franchising.
  • Describe the different types of franchises.
  • Describe the benefits and limitations of buying a franchise.
  • Describe the legal aspects of franchising, including the protection offered by the FTC’s Trade Regulation Rule.
  • Explain the right way to buy a franchise.
  • Describe a typical franchise contract and its primary provisions.
  • Explain current trends shaping franchising

  3.2 Action Required:

  • Watch the short video at the following link

  www.youtube.com/watch?v=TWh7yrOqPpo – YouTube3.3 Test your Knowledge (Question):

  • Discuss the benefits of franchising to the franchisee.