The Swanson Company, a partnership, was formed in 1999 by Jill Swanson, Jenne Swanson, Duke Swanson, Gage

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The Swanson Company, a partnership, was formed in 1999 by Jill Swanson, Jenne Swanson, Duke Swanson, Gage Swanson, and Maggie Swanson. In 2000, Holly Swanson and Missy Swanson were taken into the partnership. In 2001, Duke Swanson left the partnership and Brenda Swanson and Jerry Swanson joined it. In 2002, Jill Swanson left the partnership and Buddie Swanson joined it. In 2003, Forrest Swanson joined the partnership. Explain why it would have been easier for this company to have begun as a corporation rather than as a partnership.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Economics

ISBN: 9780078021800

11th Edition

Authors: Stephen Slavin

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