LEGAL OWNERSHIP

SOLE PROPRITORSHIP

• Advantage:
• Less government control
• Disadvantage:
• You have to invest your own moeny and take risks

PARTNERSHIP

• Advantage:
• More captial when both partners can invest money.
• Disadvantage:
• You have to share profits

CORPORATION

• Advantage:
• Liability. Liability is the amount owed to a shareholder.
• Disadvantage:
• Very complicated to set up

LLC

• Advantage:
• Are not taxed as a business
• Disadvantage:
• Shareholders are taxed on profits