This individualized, competency-based unit on choosing the type of ownership, the fifth of 18 modules, is on the third level of the revised Program for Acquiring Competence in Entrepreneurship (PACE). Intended for the advanced secondary and postsecondary levels and for adults wanting training or retraining, this unit, together with the other materials at this level, emphasizes the actual application of a business plan. Three competencies are dealt with in this instructional unit, including (1) analyzing the appropriate choice of ownership for one's business, (2) following the steps necessary to file ownership for one's business, and (3) defining policies and procedures for a successful, multiple-owner operation. Materials provided include objectives, preparation information, an overview, content (with questions in margins that guide the students' reading), activities, assessment forms, and notes and sources. The unit requires using approximately three hours of class time. (YLB)