Reference no: EM132756838

1. Consider the various forms that a business can take. If you were starting a business, what would it be and what form would it take?

What are the positives and negatives of the business form you have chosen?

2. Look up the facts involving the recent Volkswagen emissions scandal and indicate what regulations were violated and why. Also, explain what failure in corporate governance occurred in this case.

Text: Legal Environment of Business, Ch. 14: Small Business, General Partnerships, and Limited Partnerships

3. Define entrepreneurship and describe the types of businesses that an entrepreneur can use to operate a business.

4. Define sole proprietorship and describe the liability of a sole proprietor.

5. Define general partnership and describe how general partnerships are formed and operated.

6. Define limited partnership and describe how limited partnerships are formed and operated.

7. Explain the tort and contract liability of general and limited partners.

Text: Legal Environment of Business, Ch. 15: Limited Liability Companies, Limited Liability Partnerships, and Special Forms of Business

8. Define limited liability company (LLC) and describe the benefits of an LLC.

9. Define limited liability partnership (LLP) and describe the benefits of an LLP.

10. Define franchise and describe the various forms of franchises.

11. Define licensing and describe how intellectual property and software are licensed.

12. Describe special forms of business, such as joint ventures and strategic alliances.