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How to Form a Business


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After you have read and studied this chapter, you should be able to

  1. Compare the advantages and disadvantages of sole proprietorships.


  2. Describe the differences between general and limited partners, and compare the advantages and disadvantages of partnerships.


  3. Compare the advantages and disadvantages of corporations, and summarize the differences between C corporations, S corporations, and limited liability companies.


  4. Describe three types of corporate mergers, and explain the role of leveraged buyouts and taking a firm private.


  5. Outline the advantages and disadvantages of franchises, and discuss the opportunities for diversity in franchising and the challenges of global franchising.


  6. Explain the role of cooperatives.






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Nickels: Undstd Business 9eOnline Learning Center

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