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STARTING A NEW VENTURE (Business Forms (Partnership (Up to 20 individuals…
STARTING A NEW VENTURE
Business Forms
Partnership
Up to 20 individuals
Profits depend on amount of investment or as specified in partnership agreement
Unlimited liability unless otherwise specified in a partnership agreement
All partners have equal control unless otherwise specified in a partnership agreement
Death of any partner dissolves the business unless otherwise specified in a partnership agreement
Private Limited Company
Up to 50 individuals
Shareholder receives share of profits through dividend payouts
Shareholder liability limited to amount of share or capital contribution
In the hands of a management team guided by a Board of Directors
Death or withdrawal of shareholder has no effect on existence of company
Sole Proprietorship
One individual
Owner receives all profits & bears all losses
Owner makes all management decisions and acts freely
Death of owner dissolves the business
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