Transcription of withdrawal of partners or the admission of new …
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withdrawal of partners or the admission of new …
Generally speaking, there are three basictypes of legal entities in which business can beconducted: (1) sole proprietorship, (2)partnership, and (3) corporation. Within eachcategory, there are several which form is best for a particularcommercial enterprise depends on a variety ofconsiderations, including the number of owners,acceptable liability of owners, tax treatment,transferability of ownership interests, set-upcosts, and other factors. Sole Proprietorship. This is a form ofbusiness involving one and only one owner. Nospecial legal documents are needed to establish asole proprietorship and really it is not even adistinct legal entity, separate from its owner.
Generally speaking, there are three basic types of legal entities in which business can be conducted: (1) sole proprietorship, (2) partnership, and (3) corporation.
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