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In order to have a successful business,
you must understand the rules or laws by
which you must conduct your business.
One of the first steps you need to take
is choosing the legal structure for your
business that will best suit your needs
and the needs of your business. Listed
below are three principal kinds of
structures: the proprietorship the
partnership and the corporation. Each
has general advantages and disadvantages
that must be weighted to reflect your
specific goals and needs.
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A business
name serves two functions
1. It helps
customers identify one business among many
2. The name carries a reputation of the
business
Two schools
of thought
1. Select a distinctive name
2.
Select a descriptive name
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