Part 8: Legal Forms of Organization (Entities)

– Explain the advantages and disadvantages of being a sole proprietor. -What is the difference between a general partner and a limited partner. Give an example. -What are the advantages and disadvantages of a corporation? – Why are LLC’s so popular? -If you were to start a business today, which type of legal entity would you form and why (ex. Partnership, Corporation, LLC, etc.)?

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