Ease of Formation: Amy is starting a dog walking business without any partners. She has registered her business with the state.

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Business Responsibility: Lisa, Davis, and Sue are joint owners in a small dry cleaner. Davis has signed a contract with an advertising agency without input from Lisa and Sue that the business cannot afford.

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Limited Liability: A customer had a bad slip and fell in front of Helena Restaurant. The customer will be filing a lawsuit directly against the restaurant.

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Availability of Capital and Credit: John asked his college roommate to join and invest in his new business after one year in operation to help fund equipment and office space.

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Limited Sources of Funds: Mike is at risk of losing a new client. He does not have the funds to purchase supplies for a new client.

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Double Taxation: Norman is a stockholder of Widget Incorporated He received a dividend last year and must claim it as income on his taxes even though the corporation will pay taxes on the same income as well.

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