Legal Organization: Handy Mann Inc.

The form of legal organization that I chose and I felt to be most advantageous to my company is establishing or having a sole proprietorship. I felt that this form is appropriate because having a sole proprietorship style of business, means that the business is possessed and ran by one person. And as I stated and presented within my business plan, that the company Handy Mann Inc. is owned and operated by Robert Streater and no one else. It is a company ran by a sole proprietorship legal organization. If I had to choose of which type of liability my company possessed, it would have to be a limited liability over unlimited liability.
The reason being is that a limited liability will incur less debt or money loss in the circumstances of
how much liability the owner of that company has to payout. Therefore, some of the disadvantages of having or establishing a sole proprietorship are that the owner will have to pay self-employment taxes. Another disadvantage would be that if the owner of the company passes away for whatever the reason, the company will cease to exist. It has a lack of continuity. Though I think that the main or biggest disadvantage of a sole proprietorship is that the owner will alleged responsible for all forfeitures, arrears or defilements from the business.