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Legal Business Structures
Choosing a Legal Structure
Choosing a legal structure is an important part of starting a business. Every business has to have one. Will yours be a sole proprietorship? A corporation? A partnership?
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Partnership Agreement Checklist
It may be tempting to enter into a partnership on a handshake, but don’t do it. A partnership agreement will help protect you and your business from some of the pitfalls of partnering.
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The Problem with Partnerships
Two heads are not always better than one. In his book, The Complete Guide to Home Business, Robert Spiegel aptly describes partnerships as “a two-headed beast that will try to walk in two different directions someday.” If you’re thinking about entering into a partnership, beware—it can get messy.
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Nonprofit: Business with a Purpose
A business can operate as either a for-profit or a nonprofit venture. The structure you choose should match the purpose of your business. There are a number of factors to consider when deciding whether to structure your business as a for-profit or a nonprofit.
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