Would it be reasonable for a successful manufacturing firm,started as a sole proprietorship or partnership to eventually adopt the corporate organizational form?

Question

Quizplus · Accepted Answer

Adopting the corporate organizational form can provide advantages such as limited liability, access to a wider range of investors, and easier transfer of ownership. These advantages may outweigh the potential drawbacks of double taxation and increased reporting requirements. Additionally, while it may be more difficult for a corporation to initially compete with a sole proprietorship or partnership, the competitive disadvantages of not adopting the corporate form may become increasingly burdensome as the business grows and requires more resources.

Would It Be Reasonable for a Successful Manufacturing Firm,started as a Sole