Sole proprietor or LLC

So I'm starting yet another company. The decision of the day is to maintian 100% control or to share it with a partner. Currently the partner is based in Korea, but maintains an office in San Jose.

Since all of the homeland security issues that passed in congress, it is much more difficult to have a "foreign" (hate that word) partner without a SSN.

I myself have partnered with others just so they can do business inside the US. Whether it is The UK, Germany or China, they cannot accept payment due to all these new laws that are a result of our current state of world affairs.

So, maintaining 100% ownership has its advantages, however it can be costly due to the sweat equity benifits of partners doing pro bono work.

A Limited Liability Corporation demands that more people in the state and federal government know about your little enterprise. Filing with the secretary of state and getting a federal tax ID number are neccessary when there are more than one person involved in the businesss venture.

Anyway...an good entrepreneur is always forging new partnerships and dissolving old ones simultaniously. Putting all of your efforts into one company is a recipie for distaster.