Chapter 6

Starting with the Right Legal Structure


Bullet Introducing legal business categories

Bullet Using the sole proprietorship

Bullet Choosing the partnership

Bullet Electing the corporate form

Bullet Selecting the best legal structure

Choosing the legal form for organizing your business is one of the important decisions you must make before launching the business. Because of changing laws, entrepreneurs today have many more choices regarding how to structure their companies. Your need for capital and protection from liability are just two reasons why understanding the options available to you is so essential.

Those changing laws are also a good reason for seeking the advice of a good attorney or certified public accountant (CPA) to make sure you’re making the best choice for you and your type of business.

This chapter gives you a solid background on what you need to think about before choosing a legal form of business and what you need to understand about of the various forms available to you. ...

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