Sole proprietorship

Partnership

Limited liability company (LLC)

Cooperative

To make a profit

To win championships

To provide a positive fan experience

To comply with all applicable laws and regulations

General partners have unlimited liability, while limited partners have limited liability.

General partners have limited liability, while limited partners have unlimited liability.

General partners have the right to vote on team decisions, while limited partners do not.

General partners are responsible for managing the team, while limited partners are not.

To establish the rules and regulations of the league

To protect the rights of the league's member teams

To promote the sport and generate revenue

All of the above

Breach of contract

Antitrust violations

Labor disputes

Tax disputes

To promote competitive balance

To prevent teams from spending too much money

To protect the rights of players

All of the above

A franchise fee is paid by a new team to join a league, while a transfer fee is paid when a player is traded from one team to another.

A franchise fee is paid by a new team to join a league, while a transfer fee is paid when a team is sold from one owner to another.

A franchise fee is paid when a player is traded from one team to another, while a transfer fee is paid by a new team to join a league.

A franchise fee is paid when a team is sold from one owner to another, while a transfer fee is paid by a new team to join a league.

To prevent teams from spending too much money

To promote competitive balance

To generate revenue for the league

All of the above

A revenue sharing agreement divides the league's revenue equally among all teams, while a profit sharing agreement divides the league's profits equally among all teams.

A revenue sharing agreement divides the league's revenue among all teams based on their performance, while a profit sharing agreement divides the league's profits among all teams based on their performance.

A revenue sharing agreement divides the league's revenue among all teams based on their market size, while a profit sharing agreement divides the league's profits among all teams based on their market size.

A revenue sharing agreement divides the league's revenue among all teams based on their attendance, while a profit sharing agreement divides the league's profits among all teams based on their attendance.

To prevent monopolies and promote competition

To protect the rights of players

To promote competitive balance

All of the above

A collective bargaining agreement is negotiated between the league and the players' union, while a player contract is negotiated between a team and a player.

A collective bargaining agreement is negotiated between the league and the players' union, while a player contract is negotiated between a team and a player's agent.

A collective bargaining agreement is negotiated between the league and the owners, while a player contract is negotiated between a team and a player.

A collective bargaining agreement is negotiated between the league and the owners, while a player contract is negotiated between a team and a player's agent.

To determine the salary of a player who is eligible for arbitration

To determine the salary of a player who is not eligible for arbitration

To determine the salary of a player who is traded from one team to another

To determine the salary of a player who is signed as a free agent

A restricted free agent can sign with any team, while an unrestricted free agent can only sign with the team that drafted them.

A restricted free agent can only sign with the team that drafted them, while an unrestricted free agent can sign with any team.

A restricted free agent can sign with any team, but the team that drafted them has the right to match any offer that the player receives.

A restricted free agent can only sign with the team that drafted them, but the team that drafted them does not have the right to match any offer that the player receives.

To distribute players evenly among all teams

To prevent teams from stockpiling too much talent

To generate revenue for the league

All of the above