Business
thomlungu
2016-04-27 07:28:57
Pods changed from a sole proprietorship to a corporation. what would be a major reason for making this ownership change?
ANSWERS
Garcy334
2016-04-27 12:13:53

The major reason for making this type of ownership change is liability protection. A sole proprietor is personally responsible for all the debts his company generates, he can lose everything he has if he generate a big debt. In corporations, there is corporate liability shield which protects the owners of the company from loosing their personal assets as a result of business liability. 

ADD ANSWER