As a small business owner, you have a million things on your plate. Therefore, prioritizing what’s most important can be one of your biggest challenges. Many entrepreneurs fail to fully grasp the legal aspects of their community. When legal issues arise, entrepreneurs will rue the day they failed to take business law as seriously as they should have. As such, there are some legal terms every small business owner should know because knowing...
An Introduction to Business Ownership Structures
Before someone can decide how to structure his or her business, it is important to understand what options are available. The following is a brief list of the most traditional business ownership structures:
Sole Proprietorships
Business Partnerships
Limited Business Partnerships
Limited Liability Companies
For-Profit Corporations
Non-Profit Corporations
Cooperatives
Sole Proprietorships
For most...