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Form of business and financing
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In organizing your business enterprise, you should consider all of the legal forms for operation that are available to you. The ones most generally used are the sole proprietorship, partnership, corporation and, of late, the form of business which allows a corporation to elect to have its stockholders taxed directly. Variations of these forms include limited partnerships, joint stock companies, joint ventures, syndicates and trusts. This book, however, will discuss only the three basic forms of organization and the new stockholder's election provision.
SOLE PROPRIETORSHIP
The simplest form of business organization is the sole proprietorship. Choosing this form makes you and you alone the boss. You do not share profits with others. This is the form giving you the greatest freedom of action. You are not bound by restrictions of corporate charter, or partnership agreement. Read the following list of advantages of this form of operation. Apply your own factual circumstances to this list and see if this is the proper form for your contemplated enterprise.
Related terms include business value and business outsourcing.
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