Plus - Minus of Partnership

--Two or more persons owning a business together.

Advantages
  1. Easy to form and dissolve.
  2. Owner keeps all profit.
  3. Flexibility & Secrecy.
  4. Tax simple (File a "Schedule C.")
  5. Increased skill sets.
Disadvantages
  1. Unlimited liability.
  2. Lack of continuity.
  3. Limited ability to borrow.
  4. Limited skills and knowledge.
  5. Management disagreements.

8% of all American Businesses.
4% of all American Sales Receipts.
.