Business Formation

When starting a business, there are some legal requirements before doing so. Below are a few business legal structures that you can register under:

Sole Proprietorship

A type of business that is run and owned by one person, and there is no legal distinction between business owner and business entity.

Partnership

An arrangement between two or more parties with an agreeance to cooperate to advance mutual interests in the business.

Limited Liability Company (LLC)

A business structure, specific to the United States, which entails that the owners are not personally liable for their company’s debts or liabilities.

Corporation

A company or group of individuals who are legally authorized to act as a single entity rather than a group; Corporations are legally considered “persons”.

Nonprofit

An organization that is a legal entity created for collective, public, or social benefit; A non-business entity.