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CharacteristicDescriptions1. Tax status of income Taxed a second time on owner's personal return 2. Transferability of ownership Easily bought and sold 3. Mutual agency4. Government

CharacteristicDescriptions1. Tax status of income

Taxed a second time on owner's personal return

2. Transferability of ownership

Easily bought and sold

3. Mutual agency4. Government regulation5. Ease of formation

Requires government approval

6. Ability to raise large capital amounts

High ability

7. Duration of life

Unlimited

8. Legal status

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