If your business doesn’t achieve success as quickly as you imagined, don’t be discouraged. Contact a business law lawyer today to guide you through the process and help you on the path to success. There are a few types of structures for your business to choose from:
Sole proprietorship
Partnership
Corporation
Limited liability company
A sole proprietorship is the most popular structure, in which you’re the only person who owns and runs your business. In contrast, a partnership is run by two or more people. A corporation is owned by its shareholders, and you won’t be held liable for your business’s debts. Lastly, an LLC is similar to a corporation when it comes to protections, but it has similar tax benefits as a partnership. Understanding these structures can ensure that you choose the best one for your business.