Study the characteristics of a partnership. Requirements 1. List five advantages of a partnership over a sole proprietorship and a corporation. 2. List three disadvantages of a partnership compared to a sole proprietorship and a corporation. Requirement 1. List five advantages of a partnership over a sole proprietorship and a corporation. 1. 2. 3. 4. 5. Requirement 1. List five advantages of a partnership over a sole proprietorship and a corporation. 1. Less expensive to organize than a corporation 2. 3. Mutual agency and unlimited liability 4. No double taxation of partnerships 5. Partners working well together can add more value than by working alone Partnership agreements are easy to create and maintain Partnerships are not as fragile Partnerships bring together the abilities of more than one person Partnerships can raise more money than a sole proprietor