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Module 6 Discussion BoardModule 6 Discussion

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Q The English Common Law allows for three primary forms of business entities: The sole proprietorship, the general partnership, and the corporation (although there are many variations of each type). Each type of business has a very distinct set of advantages and disadvantages. If you were a business owner today, which form of business would you prefer to own and why? As an employee, which type of business would you prefer to work for and why? Please explain in detail with your specific reasons. If you are posting your initial response, click the “Start a new thread” button. If you are responding, click the “Reply to Thread” button for the thread you wish to respond to. Post your initial response by no later than Thursday 11:59 PM EST/EDT. Respond to at least two of your classmates by no later than Sunday 11:59 PM EST/EDT.

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Within this week’s discussion, we were asked if we owned a company what type of company would we like to own. Personally, I would want to own a corporation, I own several and I choose to own a corporation for several reasons. One of the first reasons is because the shareholders are not responsible for corporate debt. Also, if the corporation runs out of funds, it’s owners typically are not liable. Corporations also have other advantages like offering self-employment tax saving which can save the shareholders thousands of dollars. Corporations also have the benefit of continuous life in which if a shareholder dies the corporation would be able to continue.