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When starting your business, one of the most critical decisions you'll make is selecting the right legal form of ownership. The structure you choose can affect everything from taxes to personal liability. Here’s a quick overview to help you make an informed decision:

Sole Proprietorship: The simplest structure, where you have complete control and retain all profits. However, you are personally liable for any business debts.

Partnership: Involves two or more individuals sharing ownership. It’s essential to have a clear agreement to define roles and responsibilities.

Limited Liability Company (LLC): Offers liability protection and flexible management. Ideal for small to medium-sized businesses.

Corporation: A separate legal entity providing the highest level of personal liability protection. Suitable for larger businesses seeking investment.

Cooperative: Owned and operated by a group for mutual benefit. Members share profits and decision-making.

Choosing the right structure is vital for your business's success! Consult a legal advisor to find the best fit for your entrepreneurial journey.

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