Unformatted text preview: Success: hard work, drive, and dedica³on, market demand for the products or services being provided, managerial competence, and luck. 4. What are the basic forms of noncorporate business ownership? What are the key advantages and disadvantages of each? Sole proprietorship-Advantage is the freedom to run the business any way you want but the disadvantage is unlimited liability. Partnership-Advantage is the ability to grow but the disadvantage is the unlimited liability. Corpora³on-Advantage is limited liability but the disadvantage is the complica³on of transferring ownership....
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- Spring '14
- Business, Corporation, new ventures, new business failure, noncorporate business ownership