Explain in detail the advantages vs disadvantages of sole, Ask an Expert

Management Studies

Explain in detail the advantages vs. disadvantages of: sole proprietorship, general and limited partnerships, limited liability partners, corporations and limited liability companies. Why is it not a good idea to comingle your business and personal assets? What is the difference between a director, shareholder and officer? What duties do each of them hold to the business? What is the business judgment rule? How should a responsible manager carry out his fiduciary duties?

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