Proprietorship
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If you are advising a new client to open a new business, would you advise him to form a corporation or a single proprietorship as a small business?
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Solution Summary
This solution assists in determining whether a company should form a corporation or sole proprietorship.
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In order to advise the new business whether or not they should incorporate or start out as a sole proprietor, it would depend on the size of the business and what type of business it is. Generally, I would say that a form of a corporation is more beneficial because you protect your personal assets should the business fail or should someone sue the business. As a sole proprietor, an individual's personal assets are also at risk should they be sued. The chance then ...
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