1. Chapter 7
TAELOR PINKARD-MURRAY
MRS.DAVIS
6 TH P E R I O D

2. Sole Proprietorships
Advantages Disadvantages
 You will be able to keep  Liable for all of your
all the profits you own debt.
make.  More expensive to
 Have total control create the business.
 Unlimited liability for
malpractice

3. Partnership
Advantages Disadvantages
 2 or more people in the  You have to split all the
business profits and the loses
 Share thoughts and  You can not make your
opinions own types of decisions.
 All after tax profits stay
with the partners

4. Corporation
Advantages Disadvantages
 The ability to raise  Limited liability
money  requires an attorney to
 Money / status establish
 Distinct legal entity

5. Interpreting results
Most Advantages Most Disadvantages
 Both Corporation and  Sole Proprietorship
Partnership

6. Conclusion
 All types of businesses have they disadvantages and
advantages when it comes to the laws/rules of the
business.