About This Chapter
Below is a sample breakdown of the Business Organization Types chapter into a 5-day school week. Based on the pace of your course, you may need to adapt the lesson plan to fit your needs.
|Day||Topics||Key Terms and Concepts Covered|
|Monday||Sole proprietorships, business partnerships and tax structures|| The rules for starting a sole proprietorship; |
The elements of a partnership agreement;
A look at the rules for filing partnership taxes
|Tuesday||General and limited partnerships, and terminations|| An exploration of the ways in which partnerships can be dissolved; |
A look at how general partnerships work;
The differences between general and limited partnerships
|Wednesday||Limited liability partnerships and companies, and corporation creation|| An explanation of the pros and cons of this type of partnership; |
A look at how this type of business functions;
The roles of directors and shareholders
|Thursday||Shareholder and officer roles, and stock dividends|| The rights of shareholders and the responsibilities of directors and officers; |
An explanation of preferred and common stock
|Friday||Corporate tax structure liability and the dissolution of a corporation|| The reasons for the double taxation of a corporation; |
The rules for voluntarily dissolving a corporation
1. What Is Sole Proprietorship: Definition, Advantages & Disadvantages
Most businesses are sole proprietorships. This is the easiest and most straightforward type of business to form. Sole proprietorships are owned and run by only one person. This lesson explains sole proprietorships.
2. Creating a Business Partnership Agreement
Many businesses are partnerships. These are businesses owned by two or more people. This lesson explains how partnerships are created and the use of partnership agreements.
3. Tax Structure and Liability of Business Partnerships
Many businesses are partnerships. These are unincorporated businesses owned by two or more people. This lesson explains the tax structure of partnerships and the liability of general partners.
4. Dissolution and Termination of a Partnership
A partnership is an unincorporated business owned by two or more people. When the partners decide to no longer do business together, they must dissolve, wind up and terminate the partnership. This lesson explains dissolution and winding up.
5. General Partnership: Definition, Advantages & Examples
Many businesses are structured as general partnerships. General partners share both the benefits and obligations of the business. This lesson explains general partnerships, including the advantages and the liabilities.
6. What Is a Limited Partnership? - Definition, Advantages & Disadvantages
Many businesses are formed as partnerships. There are several different types of partnerships. This lesson explains the advantages and disadvantages of limited partnerships.
7. What Is a Limited Liability Partnership? - Definition, Advantages & Disadvantages
Many businesses are formed as partnerships. There are actually several different types of partnerships, including limited liability partnerships. This lesson explains the advantages and disadvantages of limited liability partnerships.
8. What Is a Limited Liability Company? - Definition, Benefits & Examples
A limited liability company is a popular business structure that provides the benefits of both a partnership and a corporation. This lesson explains the benefits of limited liability companies.
9. How to Create a Corporation
A corporation is a complex business structure that allows for the separate existence of the business from the individuals that run the business. This lesson explains corporations and how to create a corporation.
10. Shareholder, Board of Director & Officer Roles
A corporation is a complex business structure made up of many different individuals. This lesson explains the corporate roles of shareholders, the board of directors and officers.
11. What Are Dividends? - Investing in Stocks
Many people are interested in stock investment, and there are a few basic terms investors and business people should understand. This lesson explains dividends, common stock and preferred stock.
12. Tax Structure and Liability of Corporations
A corporation is a complex business structure with unique characteristics pertaining to taxation and liability. The advantages of a corporation are subject to certain rules. This lesson explains double taxation, limited liability and piercing the corporate veil.
13. How to Dissolve a Corporation
Corporations generally have perpetual existence. Therefore, a corporation must be dissolved if the owners wish to terminate the corporation's existence. This lesson explains corporate dissolution.
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