Instructions Part 1: Legal Classifications of Business Ownership Using your text and SCORE workshops (as a minimum), research the legal implications of business ownership. Present and define IN YOUR OWN WORDS the 3 Major forms of business ownership. The sole proprietorship The partnership The corporation Discuss 3-4 pros and 3-4 cons of each form of business ownership. Lists copied from your resources are not acceptable. Research how you would set up a business entity in your area (or an area of your choosing). Normally, this is done through a division within the Department of State in your selected state. For example, if I register a business in Florida, I would need to visit this website: http://sunbiz.org/. Explain the steps and costs for a chosen entity type. Provide yourself with a resource that you can use in the future when you actually start your own business. Search the Internet, and find at least 2 companies that offer a service for setting up businesses. Compare their services and costs with those that would exist if you were doing it yourself. What is the best choice for you? Part 2: Are you Ready to Start a Business? Many excited entrepreneurs rush into starting a business without analyzing their own skills. We have all seen restaurants come and go. They were all the dream of a person who felt that he or she made the best pizza or wanted to sell chic designs. But these people soon found out that their favorite hobby or pastime was not a strong enough foundation upon which to risk their life’s savings. Take an inventory of the skills you possess. Critically analyze those skills and their sources. Look back at your schooling, continuing education, seminars, and experience. What areas are your strengths? What areas comprise your weaknesses, and what is your plan to overcome these? Type the words “Ready to be your own boss” or something similar in the SCORE search engine to find information about this topic. Please be sure to reference from where you take you information by including citations within your text and by creating a References page. Adhere to APA formatting and reference guidelines when writing your response. Additionally, your response should be free of grammatical errors, use complete sentences, and give specific details to support statements.