Business Organization Checklist

As discussed in the previous chapter, there is a host of business forms available for the entrepreneur. These forms range from the simplest—sole proprietorships—to more structured organizations, such as partnerships, corporations, limited liability companies, and limited liability partnerships. The structure of your business will depend upon a number of considerations. Creating any of these business forms is a rather simple process, but to do it right and enjoy all the advantages, it is highly recommended that you consult a competent business lawyer. Of course, a lawyer’s time costs money, but you can save some money if you come properly prepared. The following are some of the points you should be prepared to discuss with your lawyer.