Forms of Business Ownership

Front

He/ she founds and runs a small business, assuming all the risks and rewards of the venture.

Back

ENTREPRENEUR

Front

This is a form of business ownership where two or more people act as co-owners.

Back

PARTNERSHIP

Front

It is a form of business ownership, where there is one owner who's responsible for the business.

Back

SOLE PROPRIETORSHIP

Front

It is a form of business refers to an arrangement where one person/ company grants another person/ company the right to use its trademark/ trade-name.

Back

FRANCHISING

Front

Advantage: Start-up cost are low

Back

Sole Proprietorship

Front

This refers to a person/ company that is granted a license to do business under the franchisor's trademark and trade name.

Back

FRANCHISEE

Front

TRUE or FALSE: A franchisor is a person/ company that grants a franchisee a license for the conducting another business branch.

Back

TRUE

Front

Advantage: Shared responsibility
Options: Sole Proprietorship, Partnership, Franchising, Entrepreneurship

Back

Partnership

Front

Disadvantage: Other franchisees could give the brand a bad reputation

Back

Franchising

Front

Franchising: The franchisor gives you support

Back

Advantage