Beruflich Dokumente
Kultur Dokumente
Business
Organizations
4.
5.
Advantages (strengths):
Easy to form
Specialization of management possible
More financial capital available than proprietorship
No separate income tax paid
Usually runs more efficient
Easier to attract top talent than proprietorship
Disadvantages (weaknesses):
Unlimited Liability
Partners are liable for actions of other partner(s)
Potential conflicts between partners
Shared decision making slows process
Limited life, partner dies or sells, original business
ceases to exist