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The most fundamental enterprise construction is a sole proprietorship. The owner of the enterprise is the sole particular person who takes ownership of belongings and debt obligations. Alternatively, multiple people with shared duties can operate a enterprise, and this business structure is a partnership. A business may operate as an organization. Incorporating a enterprise releases owners of monetary liability of enterprise obligations; however, a corporation has unfavorable taxation rules for the owners of the business. For that reason, a fourth enterprise construction, known as a limited legal responsibility firm, is out there, which mixes the advantages of a partnership and company.
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