In the world of business, there are various legal structures that individuals can choose from when starting their own ventures. Three of the most common options are sole proprietorship, partnership, and corporation. Each of these legal structures has its own distinct characteristics and implications that aspiring entrepreneurs should be aware of.
A sole proprietorship is the simplest form of business structure, where an individual owns and operates the business on their own. This setup offers complete control and flexibility, as the owner is solely responsible for making decisions and managing the business. However, it also means that the owner assumes … Read on
