Business Forms Individual Worksheet

1. Select one of the forms of business
2. Research and provide three advantages and three disadvantages for this one business form.
3. Provide a 100- to 200-word summary in which you provide an example business for the one form you selected. Discuss at least one of the advantages and one of the disadvantages of that form and potential legal forms that might be required.

You need to select one entity to discuss on the worksheet. In the third section of application, please focus on the entity you selected and why it is the best for your example. In this discussion, the most successful assignments will include some comparison/contrast with the other options to demonstrate why the business form was selected for the particular example.

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. Select one of the forms of business

2. Research and provide three advantages and threedisadvantages for this business form.

3. Provide a 100– to 200–word summary in which you provide an example business for each form. Discuss at least one of the advantages and one of the disadvantages of that form and potential legal forms that might be required.

Business Form:

Advantages

1.

2.

3.

Disadvantages

1.

2.

3.

Summary

 

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