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(Solution) Business Law- Assignment

   

Added on  2021-04-21

10 Pages1571 Words34 Views
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Business Law AssignmentPart AIntroductionDoing business in any nation is not an easy task. Even more difficult task is to select the business form, due to the inherent features of each business form, which include various advantages and disadvantages. In order to best suit the needs of the individuals, wanting to start abusiness, it is best to do a comparative analysis of the different business structures. This report provides a comparative analysis between Partnerships, S Corporation, General Corporation and Limited Liability Company. Comparative AnalysisTo compare the four available business structures for Pat and Gale, a comparative analysis of these structures has been presented in the table below. PartnershipS Corporation General CorporationLimited Liability Company Formation Ease of formation, as twoor more people can come together and run the business for Based on the IRSregulations, a company may chose to elect as S corporation in order to get tax Formed under the state laws and procedure is varied by state. One of the easy, fast and efficient manners of starting up a company (Shenkman, Page 2

Business Law Assignmentcommon purpose, and share profits (or losses). The partnership deed is also not compulsory to bedrawn.benefits. Weiner & Taback, 2003). Liability Unlimited liability of partners (save forlimited liability partnership). This means that personal assets ofthe partners can be attached to pay off the debts of the partnership(Int'l Business Publications, 2008).Limited liability Limited liabilityLimited liabilityRaising capitalCapital can only Issuance of Issuance of Does not raise lotPage 3

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