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In this Assignment you will be asked to use your imagination . Either invent a business or use your currently owned business . You may not use an existing company from the Internet . Every week , you will discuss different aspects of that business . Think of a business that you might like to own . This does not need to be anything you will actually start , so it can be just a dream . It can also be something you think you would like to do sometime in the future . This can be a retail or service business , independently owned or corporate . You will use this imagined or real business throughout this course , so choose wisely as you will be required to use it for ten weeks . In Unit 1 , you will describe how best to organize your business . After completing your Learning Activity , you will need to choose the best business entity that suits your needs . Will it be a sole proprietorship ? A partnership ? A corporation ? If incorporated , what type ? Your choice will be based on what you have read in the text starting on page 200 and continuing through 211 and then practiced in your Learning Activity . You will need to choose the company type , and describe why that would be best for your dream or real business . Complete all the checklist items below before submitting your minimum 1-page APA formatted and citation styled response ( include an additional title and references page ) to the Dropbox . Checklist : Describe the following : The business you have chosen , real or imaginary . This MAY not be a business that already exists if you are not the owner . The type of legal entity you believe would work best for the business and the stakeholder obligations involved . Why your choice is best in this particular case . Why each of the other business types would be less satisfactory . Describe the drawbacks to your chosen business entity and how you might deal with those .