Choose legal
structure: When you are starting a new firm, you would like to set up a sole
proprietorship. However, this is an excellent choice for small businesses.
Every situation of a business is different. If your interests are different,
then they may be better served by corporation or LLC rather than sole
proprietorship. If you are partnering with other person to start a business,
then you should learn the difference between LLP and other legal entities. In
case, if you want to change from sole proprietorship to LLC in the future, you
would need to learn about it while starting a business. When you work closely
with the business lawyer, this person will help you in setting up the right
structure that best fits in your business needs.
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