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Jerry is starting his own business - a boxing gym

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Jerry is starting his own business - a boxing gym. He's ready to sign a lease to rent space in a local strip mall. He figures he can do almost everything himself, though he will need to hire a part-time employee on an "as needed" basis. His friend, Steve, has agreed to work when needed. Jerry wants to run the business as a sole proprietorship.

Identify at least 2 legal advantages and 2 disadvantages to this form of business ownership for Jerry's Boxing Gym.