LAW 531 Week 2 Assignment

LAW 531\University of Phoenix Material		

Business Forms Worksheet

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.	Research and provide three advantages and three disadvantages for each business form.

2.	Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally necessary to file in order to form that business? Discuss at least one of the advantages and one of the disadvantages of that form.

Sole Proprietorship 

Advantages

1.	

2.	

3.	

Disadvantages

1.	

2.	

3.	

Summary














Partnership 

Advantages

1.	

2.	

3.	

Disadvantages

1.	

2.	

3.	

Summary





















Limited Liability Partnership 

Advantages

1.	

2.	

3.	

Disadvantages

1.	

2.	

3.	

Summary





















Limited Liability Company, (including the single member LLC)

Advantages

1.	

2.	

3.	

Disadvantages

1.	

2.	

3.	

Summary





















S Corporation

Advantages

1.	

2.	

3.	

Disadvantages

1.	

2.	

3.	

Summary






















Franchise

Advantages

1.	

2.	

3.	

Disadvantages

1.	

2.	

3.	

Summary





















Corporation

Advantages

1.	

2.	

3.	

Disadvantages

1.	

2.	

3.	

Summary