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There are four majors advantages in this type of business, such as more financial resources, shared management skills and knowledge, longer survival and no special taxes. But there are also four majors disadvantages such as unlimited liability, division of profits, disagreements among partners and difficulty of termination.
Now there are more than three types of business ownership but the last kind of business ownership that I’m going to be discussing about is corporations, a legal entity with authority to act which has liability separate from its owners. been in a corporation it offer the owners limited liability and that is the most significant advantages of a corporation; more money for investment, size, perpetual life, ease of ownership change, ease of drawing talented employees and separation of ownership from management...
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