Chapter 3 Opportunity recognition, shaping, and reshaping. The topics discussed in this chapter are: Describe the proprietorship, partnership, and corporate forms of business; identify the differentiating characteristics of a limited liability company (LLC); describe the benefits, risks, and basic tax aspects of various organizational forms; discuss the use of patents and trade secrets to protect intellectual property; . | Lecture Entrepreneurship Chapter 3 - William D. Bygrave Andrew Zacharakis Sean Wise