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1. What are the advantages and disadvantages associated with the sole proprietorship? How do you create a general partnership, limited partnership and a limited liability

1. What are the advantages and disadvantages associated with the sole proprietorship? How do you create a general partnership, limited partnership and a limited liability partnership? What are the rights and duties of partners in a general partnership?What is meant by joint and several liability? What advantages do LPs and LLPs have that general partnerships do not?

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