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One of the first decisions that potential business owners must confront is how their business should be structured and operated. This crucial decision must be made even before the business has actually begun operations. The legal documents that will generally accompany the formation of a business can follow many different patterns, depending on the particular situation and the type of business to be undertaken. Initially, the type of business entity to be used must be selected. There are many basic forms of business operating entities. The five most common forms are:..."
