his college education steered =dirigé him into a more lucrative field: the world of ice cream

Are you likely to get along with co-owners over an extended period of time?

You’ll have to make some trade-offs. Because each option has both advantages and disadvantages,

The flip side of enjoying complete control, for example, is needing to supply all the different talents that may be necessary to make the business a success.

the sole proprietor bears unlimited liability for any losses incurred by the business

The cost varies according to size and complexity

you estimate the loss to the building and everything inside at $1.2 million.

you can be personally sued for the amount; Individuals with substantial assets, for example, have a lot to lose if they get sued for a partnership obligation (and when people sue, they tend to start with the richest partner): To overcome this defect of partnerships, the law permits a limited partnership

First, it’s relatively inexpensive to set up, and it subjects you to few government regulations. Third, it makes financing easier: The business can draw on the financial resources of a number of individuals

In other words, any party who suffered a loss because of the fire can go after your personal assets. Second, being a partner means that you have to share decision making, and many people aren’t comfortable with that situation. Not surprisingly, partners often have differences of opinion on how to run a business. As friends they trusted each other and welcomed shared decision making and profit sharing. They were also not reluctant to be held personally liable for each other’s actions