Types of Businesses

Entrepreneurs choose to establish their businesses in a number of forms. Each type of business has their own benefits and disadvantages in terms of management control, federal taxation, and legal liabilities. The range of business forms that firms can choose to be represented under includes:

It is important for business owners to thoroughly research their business names and ensure it is not deceptively similar to other names and it meets state requirements. Procedures and requirements for forming a business varies by state.