What are the main disadvantages of a partnership?

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03-06-2015
Business

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What are the main disadvantages of a partnership?

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Kourtlan4mi Kourtlan4mi · Answer 1 · 2015-06-03T19:57:32-04:00

A partnership is a simple way for two or more people to organize their joint business. Unlike a sole proprietorship, a partnership by definition allows for more than one business owner It does not require complex state registration, and filing tax returns for a partnership is easier than doing so for a corporation. However, there are several disadvantages to organizing and running a business as a partnership, especially in terms of liability.

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