Company law

COMPANY LAW

Sole proprietorship:

Advantages: Disadvantages:

- Easy and inexpensive to set up - Unlimited personal liability for business debts
- Complete control over the business - Harder to raise capital
- Pay lower taxes than corporations - Business ends when the owner dies

Incorporation:
Advantages: Disadvantages:

- Limited liability for shareholders - More complex and expensive to set up

- Easier to raise capital through the sale of shares -More tax and legal requirements
-Tax advantages - Shareholders have less control over the business

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