Business Forms Worksheet
There are seven forms of business: sole proprietorship, partnership, limited liability partnership, limited liability company (including the single member LLC), S Corporation, Franchise, and Corporation.
1. Research and provide three advantages and three disadvantages for each business form.
2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally necessary to file in order to form that business? Discuss at least one of the advantages and one of the disadvantages of that form.
Sole Proprietorship
Advantages
1.
2.
3.
Disadvantages
1.
2.
3.
Summary
Partnership
Advantages
1.
2.
3.
Disadvantages
1.
2.
3.
Summary
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Limited Liability Partnership
Advantages
1.
2.
3.
Disadvantages
1.
2.
3.
Summary
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Limited Liability Company, (including the single member LLC)
Advantages
1.
2.
3.
Disadvantages
1.
2.
3.
Summary
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
S Corporation
Advantages
1.
2.
3.
Disadvantages
1.
2.
3.
Summary
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Franchise
Advantages
1.
2.
3.
Disadvantages
1.
2.
3.
Summary
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporation
Advantages
1.
2.
3.
Disadvantages
1.
2.
3.
Summary
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
What are the key elements of an essay
You may clearly understand what an essay is and have had the experience of writing a number. However, it is […]
Feb 25th, 2022
How to write a research paper fast
The day inevitably comes; you need to submit your assignment. You have been procrastinating on writing your paper until the […]
Feb 24th, 2022
220+ best humanities research paper topics
Choosing a paper topic can be a daunting task for any assignment. A student may face agony trying to come […]
Feb 24th, 2022
How to write a media analysis essay
The media is an integral part of modern society. Think of what would happen to the world if there were […]
Feb 23rd, 2022
Great tricks on how to write a hypothesis in 2022
A hypothesis is a statement that can be proven by scientific research. It proves the theory of action and reaction, […]
Feb 22nd, 2022