Compare the types of business ownerships, organizations, and industries in service-based and product-based businesses.

Comparison should examine

• legal business structures
  • sole proprietorship
  • partnership/limited partnership
  • corporation
    • C-corporations
    • S-corporations
    • nonprofit corporations
    • quasi-public corporations
  • limited liability company (LLC)
• types of business organizations
  • franchises
  • joint ventures
  • cooperatives
• types of industries
• the costs (i.e., disadvantages) and benefits (i.e., advantages) of each.