Three main types of business organizations are partnerships

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Q. The three main types of business organizations are partnerships, LLCs and corporations. Using the text and the comments to provide the subsequent information.

a. Illustrate the formation process for each formal, informal, etc.?

b. Illustrate the liability of the "owners" (partners, shareholders, members) for the debts of the business. This must comprise a full explanation with some examples for each.

c. Illustrate what is the duration of the "life" of each of these organizations?

d. If you were forming a business entity and had no intent to go public (sell stock on the stock exchanges), illustrate what form would you use and explain why?

Reference no: EM13113202

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