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Compare Sole Proprietorship vs General Partnership vs Limited Partnership vs Corporation vs LLC

Name
Sole ProprietorshipGeneral PartnershipLimited PartnershipCorporationLLC
Made up of...1 person = 1 company2 or more1 or more general partner and 1 or more limited partnerboard of directors, management, shareholdershybrid partnership, proprietorship, corporation
Advantages-owner maintains control; easy to form-right to share profits; easy to form-easier to raise money; limited liability for limited partnerlimited liability; easier to raise fundsowners can run it; easy to form; limited liability
Disadvantages-Unlimited Liability; difficult to raise money-Each Partner has unlimited liability; hard to raise money-limited partner has limited control;hard to form; separate taxeshard to raise money
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Compare Sole Proprietorship vs General Partnership vs Limited Partnership vs Corporation vs LLC
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Oct. 27th 2017 12:08:10 AM
Oct. 26th 2017 11:21:12 PM
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