1. What are the advantages and disadvantages of a partnership? 2. Contrast the advantages and disadvantages of...

Question:

1. What are the advantages and disadvantages of a partnership?
2. Contrast the advantages and disadvantages of a partnership with those of a corporation.

3. Provide your opinion on whether the Harlow’s should incorporate.

4. Would the LLC option be a value to them? Explain.

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...