Economics 11th Edition by Stephen Slavin

Exercise 8

The Swanson Company, a partnership, was formed in 1999 by Jill Swanson, Jenne Swanson, Duke Swanson, Gage Swanson, and Maggie Swanson. In 2000 Holly Swanson and Missy Swanson were taken into the partnership. In 2001 Duke Swanson left the partnership and Brenda Swanson and Jerry Swanson joined it. In 2002 Jill Swanson left the partnership and Buddie Swanson joined it. In 2003 Forrest Swanson joined the partnership. Explain why it would have been easier for this company to have begun as a corporation rather than as a partnership.