Introduction
While there are many forms of business as far as the law is concerned, all types of organizations have un9ique advantages and demerits. Apparently, the advantages and disadvantages are rooted in the legal capacity of a business. The common types of businesses available are sole proprietorship, corporation, Limited Liability Company, partnerships and the unlimited liability companies. Fundamentally the primary differences among all these forms are rooted in the liability status of the business in relation to the owners and providers of long-term finance (Emerson, 2009). Notably, unlimited liability means that the liabilities of the owners are limited to the extent ...