- Factors to Consider when Choosing a Form of Ownership
- The Forms of Enterprise Ownership
- Sole Proprietorship
- General Partnerships
- Limited Partnerships
- Limited Liability Partnerships
- S Corporations
- Limited Liability Company (LLC)
- Professional Corporation
- Joint Ventures
Goals: One of the first steps in setting up your business is to decide upon an organizational structure and to develop a strategic plan for your business. In this first module we will cover the various forms of business organization, discuss the pros and cons of each form of business entity, and also talk about business models in general.
The goal here will be the set the stage for deciding what business format makes the most sense for you and how to set realistic goals. We will look at a variety of business models and explain the pros and cons of those models and help you to consider alternatives for your business or prospective business.
Finally we will talk briefly about the principals of capitalization and consider what level of initial capital it makes sense to target before launching your venture, or what may be needed to properly re-capitalize your current business.
A more detailed discussion of capitalization will be covered in Book 11.