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 use the work sheet format made available  but only to give brief, bullet point advantages and disadvantages for each business form. Then choose the two business forms which would be the most logical to use or are in use for a business that you work for, that you know of, or that you would like to start. Then, in a maximum of 500 words, explain to me how the advantages and disadvantages of the two business forms would affect the chosen business's operations. I am asking you to consider the practical effect of a business form selection.

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • 9 years ago
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