Taylor Leblond just graduated from university and is planning to start a software development company to develop and market a mapping program he has developed. He is debating whether to operate the business as a proprietorship or incorporate.
Required:
a. What advantages are there to operating as a proprietorship?
b. What advantages are there to operating as a corporation?
c. Which form of business organization would his customers likely prefer? Why?
d. Which form of business organization would his creditors likely prefer? Why?
e. Which form of business will be most advantageous to Taylor if he expects the business to grow rapidly? Why?