Ease and Cost of Formation

Secrecy

Distribution and Use of Profits

Advantages Flexibility and Control of the Business

Government Regulation

Joint Ventures Taxation

S Corporations Closing the Business

Other Types Sole Proprietorships
Limited Liability Companies (LLC) Unlimited Liability

Cooperatives (co-op) Limited Sources of Funds

Limited Skills
Mergers Disadvantages
Trends Lack of Continuity
Acquisitions
Lack of Qualified Employees

Private Corporation
BUSINESS Taxation

Public Corporation
The Board of Directors
Preferred Stock
Stock Ownership
Common Stock
Limited Liability
Ease of Transfer of Ownership
Perpetual Life
External Sources of Funds
Expansion Potential
Double Taxation
Forming a Corporation
Disadvantages
Disclosure of Information
Employee-Owner Separation
Types OWNERSHIP
General Partnership
Types
Limited Partnership
Elements
Ease of Organization
Availability of Capital and Credit
Advantages Combined Knowledge and Skills
Corporations Partnerships Decision Making
Advantages
Regulatory Controls
Unlimited Liability
Business Responsibility
Disadvantages Life of the Partnership
Distribution of Profits
Limited Sources of Funds