I would want to be part of a Limited Liability Corporation. I agree there is a limited risk among the owners. This is one of the only companies where the owners do not have total liability. It is also easier to get loans and shares can be sold to raise money. One important advantage is that the taxes are uncomplicated taxes. It is lots of paperwork and managers do not always share in profit. In almost every other corporation debtors can go after the owners personal money which means the owners are risking a lot. This is also a good corporation because ownership depends on the amount each partner invests which is a great way to determine who has more ownership.