Although sole proprietorships are the most common form of ownership, the majority of Americans work for corporations. Between sole proprietorship and corporation, there is a range of options: partnership, LLC, LLP, benefit corporation (B corp), S corporation, C corporation, and then a range of not-for-profit and nonprofit structures. Each form of ownership has its advantages and disadvantages, but ultimately the business owner must choose.
What if YOU were a business owner and you needed to select a legal form of ownership. What form of ownership would you choose?
What would YOU take into consideration if YOU were the owner and needed to select from the ownership options available?
Word totals for this post should be in the 250 word range. Whether you agree or disagree, explain why with supporting evidence and concepts from the readings or a related experience. Include a reference, link, or citation when appropriate.
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