Plus - Minus of Partnership

Two or more persons owning a business together.
8% of all American Businesses; 4% of all American Sales Receipts.

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.
Management disagreements.