Title: Describe types of business ownership in the fashion industry.
Course: Fashion Marketing, Advanced (12153-II) > Section: Exploring Entrepreneurship

Description of business ownership should incorporate sole proprietorship, partnership, and corporation and should include the basic operational organization, necessary license or charter, and advantages and disadvantages for each.

Process/Skill Questions:

- What are the advantages and disadvantages of various types of businesses?
- What are general and limited partners, and what are their roles in a partnership?
- What documentation is required to set up a corporation?
- What are advantages and disadvantages of owning your business vs. working for someone else?
- What types of risks do entrepreneurs face?