Create a "Forms of Business Organziation Chart"

prepare a chart comparing the Major Forms of Business. include: 1) sole proprietorships; 2) partnerships; 3) limited partnerships; 4) limited liability partnerships; 5) corporations; 6) professional corporations; and 7) limited liability companies.

The Chart should include the following for each form of business: 1) How it is formed (method of creation); 2) Description of its legal position - (is it a separate entity); 3) Its legal liability and that of its "owner"; 4) How an interest in the business may be transferred; 5) Management; 6) Taxation; and 7) Ability to transact business out-of-state. Bullet points rather than complete sentences can be used in each box of the chart.