Choosing the Type of Ownership. PACE Revised. Level 2. Unit 5. Research & Development Series No. 240BB5.

This unit on choosing the type of ownership of a small business, the fifth in a series of 18 modules, is on the second level of the revised PACE (Program for Acquiring Competence in Entrepreneurship) comprehensive curriculum. Geared to advanced secondary and beginning postsecondary or adult students, the modules provide an opportunity to learn about and try out entrepreneurship ideas so that students can make a preliminary assessment of how these ideas relate to personal needs. The units on this level contain detailed explanations of small business principles, suggestions on how to find information and use techniques, and encouragement for creating a future business. Students completing this unit should be able to perform these competencies: (1) explain the basic principles of a sole proprietorship, a partnership, a corporation, a cooperative, and a franchise; (2) identify the factors that influence the choice of a type of ownership; and (3) investigate sources of assistance in choosing a type of ownership. The unit is organized into five sections. Following a preliminary section on how to use the unit (with vocabulary and a review of the objectives for this topic on level 1), the unit's information is presented in question-and-answer format. Individual and group activities, an assessment to be completed with the teacher, and sources used to develop the unit follow. A list of the modules of Revised PACE, Level 2 completes the unit. (KC)