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Unformatted text preview: example of a partnership is Michelangelos Pizza. Finally a corporation is usually a large company that is a legal entity and has shareholders who own shares of the companys profit and enjoy limited liability. An advantage of a corporation is that there shareholders enjoy that limited liability and that they raise large sums of money. A disadvantage of a corporation is that the company is subject to double taxation. An example of a corporation is Target. The major percentages of businesses in the United States are proprietorships. Partnerships come in second while corporations come in last. But the funny thing is while corporations may be in last place in numbers they bring in more than 3 times more than the proprietorships and partnerships put together....
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This document was uploaded on 07/22/2011.
- Spring '11