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It is the simplest business structure to set up and maintain.
A partnership is one better than a proprietorship because it has partners sharing the managerial role. It also has the ease of formation through a simplistic partnership agreement with low start up costs supplied from the greater sources of capital available. Profits are split between each owner and this provides a tax benefit of lower tax outcome.
A company is the most superior out of the three structures. It is a separate legal entity unlike the other two, meaning that there is limited liability amongst its shareholders, thereby safeguarding their personal assets...
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