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Legal
Structure Checklist
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Rating
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Comments
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Sole
Proprietorship
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Difficulty
getting financing
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Maximum
liability
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Maximum
ownership control
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Minimum
working capital required
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Minimum
regulation
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Minimum
start-up costs
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Minimum
continuity
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No
profit sharing
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Tax
advantages for owner
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Partnership
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Difficulty
getting additional financing
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Easily
formed
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Limited
regulation
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Maximum
liability
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Minimum
continuity
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Minimum
start-up costs
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More
sources to raise capital
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No
complete control
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Possible
tax advantages
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Responsibilities
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Risk
in choosing partners
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Sharing
of management
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Corporation
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Attractive
to investors
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Continuity
ad infinitum
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Double
taxation
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Extensive
record keeping
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Legal
entity
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Legal
restrictions
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Management
expertise
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Maximum
regulation
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Maximum
start-up costs
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Minimum
liability
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Possible
tax advantages
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Transferable
ownership
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Total
points
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Sole
proprietorship
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Partnership
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Corporation
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Legal
Notice And Disclaimer
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Statement
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