April 13, 2010

Corporate Entities

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New business owners are often a little confused about “corporate entities”. More specifically, many businesses are not quite sure how they should register or if their current classification is the best one given their size and structure. QuickSprout has a guest post by Scott Walker that gives a handy guide on choosing the right corporate entity. This information is fairly specific to the US, however, most countries have very similar systems in place.

One of the most important early decisions an entrepreneur must make in connection with his or her venture is the choice of entity. There are basically six choices:

  1. Sole proprietorship
  2. General partnership
  3. Limited partnership
  4. C corporation
  5. S corporation
  6. Limited liability company

Source: Beginner’s Guide to Corporate Entities