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In my opinion, the best way to form a business is an LLC, You have limited Liability, along with the benefits of a corporation and a sole proprietorship from applying for tax returns.

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To be an LLC a corporation must follow certain guidelines. Once they meet all of the requirements needed they then can be considered an LLC. Owners are protected from Lawsuits, and can claim tax returns .

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To form a Sole-Proprietorship, a person or the owner must file the necessary paperwork and licenses to legally run a business. All of the time Sole-Proprietors are 100% liable for all damages. The Business can dissolve and the owner may have to file personal bankruptcy if sued.

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To form a partnership, two people must come up with an agreement to start a business. they than must follow certain rules and run the business. They are legally sued. Depending on the type of partnership if one partner is no longer competent to run a business, the partnership is terminated.

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To form a corporation one must gather investors to become stockholders and create a board of directors. Corporation do not dissolve unless they file bankruptcy or buy out their stockholders.

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To form a franchise a franchisee must follow the bylaws set forth by the franchisor. If they break any of the laws set forth this can mean a immediate dissolution of the business.

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Photo 1: http://topdifferences.com/wp-content/uploads/2017/02/partnership-and-company-2-800x445.png
Photo 2: https://howtostartanllc.com/what-is-an-llc
Photo 3: https://whichfranchise.co.za/the-top-10-biggest-franchises-in-the-world/

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Sole Proprietorship, Associations, Registered Partnerships having Limited Liability, Limited Liability Company, Corporation, and Franchise

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Compare and Contrast the Legal Procedures and processes for forming and Dissolving various forms of Business ownership.