Leslie Lum's Introduction to Business: Readings and Workbook: "Module 2: Entrepreneurship and Legal Forms of Business"

Read Module 2, pages 149 – 158, to get an overview of the various forms of business ownership including advantages and disadvantages. Continue reading pages 158 – 159 to learn about some of the factors that go into deciding which form is best for any given situation.

As the text states, there is no hard and fast formula that helps an entrepreneur pick the right form, however, there are some important considerations such as risk, taxes, transferability, and even image.