Legal Question in Business Law in California
Corporations v. sole proprietorship
Where can I find information regarding the pros and cons of corporations and/or sole proprietorships? I have access to a law library.
3 Answers from Attorneys
Re: Corporations v. sole proprietorship
It is really pretty simple. Sole proprietorships are cheaper to operate but you are personally liable for all debts of the business. With a corporation you escape personal liability but they involve more costs to set up and run.
Re: Corporations v. sole proprietorship
You also asked about written literature on this
issue. There are quite a few practice guides
available on the subject. Ask the librarian if
they have either The Rutter Group Corporations
guide or something by Continuing Education of the
Bar ("CEB"). Other publishers have treatises on the
subject of incorporation, but the names escape me
just now. Either the Rutter Group guide or the CEB
guide should be a good place to start.
Re: Corporations v. sole proprietorship
There are a number of places on the web where you might find articles
on this subject. Try www.RichmondLaw.com, www.FreeAdvice. com,
www.cccba.com, www.FindLaw.com, www.LawInfo.com, and, of course, www.lawguru.com.
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