1.7 Choosing the right legal structure

Candidates should be able to: differentiate between the public and private sector define sole trader, partnership, private limited company, public limited company define not-for-profit and give examples analyse the advantages and disadvantages of various legal structures

1.7 Private or public organisation All organisations in the UK are either part of the public sector or the private sector. Who are businesses in the private sector owned by? Who are businesses in the public sector owned by?

1.7 Private or public organisation What sector contains charities?

1.7 Private sector There are four forms of legal structure in the private sector you need to know about. Do you know what they are called?

1.7 Public sector There are various types of structure in the public sector as well, such as:

1.7 Legal structures Research the features, advantages and disadvantages of one of the following: Sole trader Partnership Private limited company Public limited company and create a poster to teach the class (use as few words as possible!)

1.7 Not-for-profit enterprise - features What is the main aim of not-for-profit enterprises? Examples? Benefits? Drawbacks?

1.7 Other forms of business ownership in the private sector What is a franchise? What are co-operatives?