I think PAS is a partnership. Although Ms. Pamela is the headmistress of our school, she still has a board of directors whose legal rights match hers.
PAS was created by Ms. Pamela, quite obviously, and the original funding came from Ms. Pamela herself along with her board of directors . Together, they created Pacific American School and established it on the third floor of a Guangfu building. The decision making process is relatively simple as Ms. Pamela made most of the decisions but she does respect the opinions of her other board members. Together, they are the decision makers. Despite PAS was a school in name, it has a limited life because Ms. Pamela was the sole reason that a lot of the students chose to come to this school( like how people bought apple products because they knew Steve Jobs produced them) . The liability, however, rests on Ms. Pamela and her board directors, not Ms. Pamela alone. I do not know what happens to the profits the school earns, but I am guessing that Ms. Pamela will spilt it with her board members.
I chose partnership because Ms. Pamela did not run the school alone. Rather, she had a grou pof board members who are less visible to the public eye but still important nothing less. The avantages are 1) freedom, 2) less start-up costs. The disadvantage is possible conflicts.
If I were to start a school, it would probably be a partnership too because it gives me a certain amount of freedom without it being too much.