A franchise is a form of a business entity like a limited partnership, corporation, or limited liability compahy True False A disadvantage of a sole proprietorship as a form of business is that the business cannot be easily transferred or sold. True False The legal principle that provides corporate management will not be held liable for their honest business decisions that fail to generate a corporate profit but are made by management in conformity with the manager's fiduciary duties is known as: The loyalty rule The derivative principle The derivative lawsuit rule The business judgment rule