Sole Proprietorship: One Owner, Easy to Open, Unlimited Liability, personal responsible , No Corporate Business Taxes, Limited Capital and Capabilities, Partnerships: Two or More People, Combined Resources, Tax Advantages, you pay taxes on your share of business ownership, Maybe Liable for the Mistakes of your Partner(s), Disagreements Within Can Hurt the Business, Corporation: Limited Liability, Financial Power, Unlimited Life, Dual Taxation, More Complex Requirements, Franchise: Ready-Made Business Plan, Less Risky as it has a Shown Success, Easy to Get Advice and Help, Less Flexibility, Must Abide by the Rules in the Licensing Agreement, The Fees and Royalities can Add Up Quickly,

Business Ownership

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