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Incorporating companies can assist a business in determining the best course of action for formalizing their business structure. There are actually three basic business structures from which to choose: Sole proprietorship, Partnership (limited or general), or Corporation (S, C or LLC). The legal structure you choose depends on a number of things, including your type of business, individual situation, goals for the business, and a number of other personal and financial factors. Before deciding what's best for you, it's a good idea to discuss your plans with an incorporating company. Make sure you are prepared to describe your business plans in some detail. Making the right choice can help you avoid a mistake that can cost you big in terms of possible future liability.
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