Marketing EssentialsSection 2:
Logistics of Business OwnershipAfter You Read Online ActionReviewing Key Terms and Concepts - Four ways to become a business owner include: start a new business,
purchase a franchise, purchase an existing business, and take over a family
business.
- Four legal forms of business organization are: sole proprietorship,
partnership, corporation, and limited liability company. Sole proprietorship
is the most common.
- Advantages of a limited liability company include: tax breaks and
the fact that owners are shielded from personal liability.
Integrating Academic Skills - This person works 2,805 hours; 11 X 5 X 51 = 2,805. This is equivalent
to 70.125 40-hour-weeks; 2,805 – 40 = 70.125
- A trademark is a symbol, word, phrase, or design that identifies
the source of good; it can be used legally only by the owner of the trademark.
A copyright protects an original artistic or literary work. A patent protects
an invention.
|