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. Use this worksheet for this assignment and select two forms of business.
2. Research and provide three advantages and three disadvantages for one of the two business forms and list the advantages and disadvantages of the one business form next to the numbers below.
3. Provide a 100- to 300-word summary in which you provide an example business and discuss the two business forms you selected. Within your summary of a proposed business, discuss the advantages and the disadvantages of the two business forms (comparing and contrasting) and also include any potential legal forms that might be required for the business forms.