a. Sole proprietorship i. Positive – simplifies decisions and allocation of responsibilities ii. Negative – personal liability b. General partnership i. Positive – no local or state filings are necessary to create ii. Negative – personal liability c. Limited Liability Partnership i. Positive – limited personal liability ii. Negative – limited partner can’t make management [...]
Posts Tagged Limited partnership
List one positive and one negative aspects of each a. Sole proprietorship i. Positive – simplifies decisions and allocation of responsibilities ii. Negative – personal liability b. General partnership i. Positive – no local or state filings are necessary to create ii. Negative – personal liability c. Limited Liability Partnership i. Positive – limited personal [...]