Each business form has its advantages and disadvantages. The selection of one form over the other depends largely upon the characteristics you want it to take. Factors to consider include the type of business and liability you want the company to have, how many people are involved in ownership and management, what role the owners & managers will play, as well as tax implications. Costs are also a factor when deciding how to create your company, as a partnership agreement can cost as much as incorporation.
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