1.setting up a business

sole proprietorship:个体户
advantages:
1.simple to establish
2.freer in decision-making
3.easy to keep operational and financial secrecy
4.less tax burden
5.exclusive use of profits
disadvantages
1.unlimited liability
2.limited access to capital
3.limited mangerial expertise
partnership：合伙公司
advantages:
1.improved access to capital and credit
2.greater possibility for good management
3.definite legal framework
4.better prospect for growth
disadvantages:
1.unlimited liability
2.internal conflicts
3.problem of continuity
corporation：（股份有限）公司
advantages:
1.limited liability
2.easy to expand
3.separated ownership and management
4.continuous life
disadvantages:
1.double taxation
2.high organizing costs
3.lack of secrecy
s corporation and limited liability company ：有限责任公司
a special form:franchising：特殊形式：特许经营
advantages:
disadvantages: