legal considerations

What are the common legal structures for businesses?

Choosing the right legal structure is crucial for any business. Common structures include:
Sole Proprietorship: Simplest form, where one individual owns the business.
Partnership: Involves two or more individuals sharing profits, losses, and liabilities.
Corporation: A separate legal entity that provides limited liability to its owners.
Limited Liability Company (LLC): Combines the benefits of both the partnership and corporation structures.

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