What factors should an entrepreneur consider before choosing a form of ownership?

2. Why are sole proprietorships so popular as a form of ownership?

3. How does personal conflict affect partnerships?

4. What issues should the articles of partnership address?

5. Why are the articles important to a successful partnership?

6. Explain why one partner cannot commit another to a business deal without the other’s consent.

7. What issues should the Certificate of Incorporation cover?

8. How does an S corporation differ from a regular corporation?

9. What role do limited partners play in a partnership?

10. What happens if a limited partner takes an active role in managing the business?

11. What advantages does an LLC offer over an S corporation?

12. What advantages does an LLC offer over a partnership?

13. How is an LLC created?

14. What criteria must an LLC meet to avoid double taxation?

15. What advantages can an entrepreneur who buys a business gain over one who starts a business “from scratch”?

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