To Incorporate or Not?
In This Chapter
• Sole proprietorships: going it alone
• Partnerships, LLPs, and LLCs: working with others
• Corporations as a separate entity
• Joint ventures with other companies
• Franchises: mimicking a process that works
David and Tonya have an idea for the next great invention. They know they need to start a company, but they’re not sure which entity will be the best for them. The choices seem endless and confusing.
This chapter provides an overview of the principal forms of business organizations. Chapters 8, 9, and 10 take an in-depth look at corporations, partnerships, limited partnerships, limited liability partnerships, and limited liability companies.
A sole proprietorship is the ...