Forms of Business Ownership
Sole proprietors
advantages
-Simplified ownership
-Fewer registration fees
-More freedom and control
-Keep the profits
disadvantages
-Risk of wrong decisions
-Unlimited liability
-Not as much advertisement
-Less management
Corporations
advantages
-security and continuity
-Liability protection
-More perspectives
disadvantages
-Double taxation
-Lots of protocols to follow
Cooperatives
advantages
-contribution and shared responsibility
-Further marketing reach
disadvantages
-Lots of competition
-Coruption
Partnerships
advantages
-Shared responsibility
-More protection
disadvantages
-Potential separation
-Disagreements in ideas
Franchise
advantages
-Many connections and advertisement
-Fast growth
disadvantages
-Follow all rules exactly
-Less control