Private limited To understand what is No understanding of 1 Show introduction to limited companies – companies meant by a private the legal process of Explain the difference between businesses and companies. (Ltd) limited company and the incorporation is Show a short clip from Dragons’ Den why do businesses want to involve other benefits and drawbacks expected. – investors? of this legal structure. Why is limited liability helpful in this situation? To understand the concept of limited liability and which businesses benefit from this. Public limited To understand what is 1 Show for famous Plcs. companies meant by a public limited List of businesses who are Plcs and Ltds include some which students might – (Plc) company and the imagine are Plcs (eg Nintendo and Virgin group) why would big businesses – benefits and drawbacks maintain their Ltd status? of this legal structure. Fill in the gaps exercise assessing understanding of legal structures. Share Not-for-profit To understand what is 1 students to identify reasons for starting a not-for-profit organisation. – organisations meant by a not-for-profit Research not-for-profit organisations in the local area why have they been set up? – organisation and the What is the social need that they are trying to improve? benefits and drawbacks what be the potential drawback of these organisations? of this legal structure. – To evaluate which legal Including new start-up 1 Starter – structure would be the businesses and large Students to create a (without/minimal resources) including columns for type of most appropriate for a established legal structure, definition, benefit (x2), drawback (x2), real world example and size of variety of business businesses. business what size of business would be most appropriate for the legal structure? – examples. Students given different business examples/scenarios in groups they should judge – which legal structure they would choose and justify why that is the most appropriate structure.
Private limited companies (Ltd) To understand what is meant by a private limited company and the benefits and drawbacks of this legal structure. To understand the concept of limited liability and which businesses benefit from this. No understanding of the legal process of incorporation is expected. 1 Show introduction to limited companies – Explain the difference between businesses and companies. Show a short clip from Dragons’ Den – why do businesses want to involve other investors? Why is limited liability helpful in this situation? Public limited companies (Plc) To understand what is meant by a public limited company and the benefits and drawbacks of this legal structure. 1 Show for famous Plcs. List of businesses who are Plcs and Ltds – include some which students might imagine are Plcs (eg Nintendo and Virgin group) – why would big businesses maintain their Ltd status? Fill in the gaps exercise assessing understanding of legal structures. Share Not-for-profit organisations To understand what is meant by a not-for-profit organisation and the benefits and drawbacks of this legal structure. 1 – students to identify reasons for starting a not-for-profit organisation. Research not-for-profit organisations in the local area – why have they been set up? What is the social need that they are trying to improve? – what be the potential drawback of these organisations? To evaluate which legal structure would be the most appropriate for a variety of business examples. Including new start-up businesses and large established businesses. 1 Starter – Students to create a (without/minimal resources) including columns for type of legal structure, definition, benefit (x2), drawback (x2), real world example and size of business – what size of business would be most appropriate for the legal structure? Students given different business examples/scenarios – in groups they should judge which legal structure they would choose and justify why that is the most appropriate structure.