Business Legal Organizational Structures
Explore the variety of business organizational structures available to entrepreneurs, learn which may be best for your venture, and find tips and resources on setting it up.
This article describes the differences among the six basic business organizational structures used by for-profit businesses in the United States.
An assumed name, or DBA (short for "doing business as"), gives entrepreneurs the ability to brand their businesses effectively with minimal cost. It allows sole proprietors to use a business name rather than their personal name. It also lets a single legal entity (corporation, LLC, etc.) operate multiple businesses without creating a new legal entity for each business. Learn the whys and hows of getting an assumed name.
The Limited Liability Company, or LLC, has in recent years become the most popular legal structure for small businesses wishing to incorporate. The exact requirements vary slightly from state to state, but setting up an LLC is a relatively simple process that can usually be done in an hour or less.
A detailed letter from a reader about choosing between a Limited Liability Company and a Subchapter "S" Corporation (S-Corp) raises questions about distribution of ownership, pass-through income, tax advantages and disadvantages, and franchise tax. We've got answers!
For our Canadian visitors, your Small Business Information Canada Guide offers a feature article on "Choosing a Form of Business Ownership".
No one legal structure is best suited for all entrepreneurial ventures. Here you'll learn the pros and cons of sole proprietorships, partnerships, corporations, limited liability corporations, and nonprofit corporations.
Hieros Gamos Legal Research Center provides excellent in-depth discussions of sole proprietorships, partnerships, corporations, limited liability companies, and non-profit corporations, including a handy feature comparison chart between the different structures.
Jim Hopkins of USA Today shows how your long-term goals for the organization influence the selection of the appropriate business form.
Excerpts from the Small Business Administration covering sole proprietorships, partnerships, and coporations, including discussions on getting started, control of the business, liability, continuity, transferability, and tax ramifications.
