Authors:
Rachel Armstrong, Erin Hannum, Laura Fisher and Lisa Schlessinger

Date of Publication:
January 27, 2016

Publication:
Farm Commons

Introduction:
Sole proprietorships and general partnerships are the easiest business entities to set up and maintain. In fact, nothing is actually required to create them. You may already be operating one without even knowing it! For example, if you own your farm operation and you’re not on an employer’s regular payroll for the work you do, you are automatically a sole proprietor. If you and a friend or a group friends are doing it together, you are automatically a general partnership. It may very well be that you want to maintain this simplicity and are not at all interested in officially forming a business entity. This chapter highlights some risks involved in keeping your farm operation as a sole proprietorship or general partnership, as well as things you can do to protect your interests along the way.

Read the rest of the article: soleproprietorship.pdf