Take Become Sole Proprietor Advantages Form Business Ownership Limited Liability Partnersh Q34207426

1. What does it take to become a sole proprietor? What are theadvantages of this form of business ownership?

          

2. How does a limited liability partnership differ from ageneral partnership in terms of liability?

          

    

3. Why would someone choose to franchise? What are theadvantages to owning a franchise?
4. Like many entrepreneurs, Troy Smith started Sonic as a soleproprietorship, then took on a partner, and eventually offeredfranchises. What advantages did he enjoy at each stage of Sonic’sdevelopment? What disadvantages did he face?

5. There are many advantages and disadvantages to the variousforms of business How is a franchise different from apartnership?
6. What important questions should you ask before
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