How to Set up & Run a Fashion Label, 2nd Edition

Conceptual shoe by Gil Carvalho

Any individual or group of individuals who wish to start a business should consider the most appropriate legal structure to use. New York law recognizes four basic forms of business organization, all of which have different strengths and weaknesses: sole proprietorship, business corporations, limited liability companies, and partnerships. Adopting the appropriate structure from the outset is important and it is prudent to seek the advice of an attorney before making your choice.

Sole Proprietorship

This is the most basic business organization. A sole proprietor is someone who is engaged in business on his own account, ...