business structure
Company's legal form
Business structure is the legal and organizational form a company takes—sole proprietorship, partnership, corporation, LLC, and so on.
The choice affects taxation, liability, and decision-making authority.
We need to figure out the right business structure before we launch.
Lawyers and accountants typically advise on which structure suits a venture's needs.
- legal entityOrganization with rights
- tax efficiencyMinimizing what you owe
- ownershipLegal right of possession
- management hierarchyRanked authority within organizations
- chain of commandFormal authority hierarchy
flat hierarchy · partnership · licensing requirements · corporation · tax obligations · employment laws · decision-making authority · succession planning · startup culture · scalability · risk management · general partnership · financial audits · franchise · limited partnership · parent company · articles of incorporation · LLC
- incorporationarticles of incorporation, incorporator, incorporation, incorporators, registered agent
- business entitiescorporation, LLC, sole proprietorship, partnership, company
- partnershipspartnership, alliance, joint venture, joint ventures, limited partner
business structureunderground economy
Unreported commercial activity
freelance work · gig work · hobby · side hustle · sole proprietorship
business structurenonprofit organization
Mission-focused entity, not profit-seeking
public institution · government agency · cooperative · social enterprise · volunteer organization
business structuresole proprietorship
Unincorporated individual-owned business
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