to page content
to site navigation
Explore the Entrepreneurship.org Resource Center to find resources. Designed with entrepreneurs in mind, our resource center allows you to find materials to grow great ideas.
When identifying an appropriate legal form of business, most often entrepreneurs consider these factors—control, taxes, liability, transferability of ownership, longevity of the business, and raising capital. The key is to identify the legal structure that best meets your needs and the needs of your business.
In an ideal world, you would select a legal form of business, understanding every legal and tax implication. The reality is that you must rely on the advice of attorneys and accountants to help you make this decision. They can anticipate your concerns based on their experience and on information you provide. Still, the legal structure of the business is your decision to make and live with.
The six legal forms of doing business are:
This article will delve deeper into the characteristics, advantages, and disadvantages of each structure.
Read the example to learn how one company documented their operation systems and workflow to reach their goal of using shared knowledge to increase sales.
This tool will help develop one complete workflow for a single operational system.
Above and beyond a job description, which describes the essential functions and the tasks to be done, the performance standard defines how well each function or task must be performed.
Considering your goals for business, this tool will help you identify operational systems necessary to support these goals.
This tool is a sample legal agreement covering terms for confidentiality and invention assignment, including non-competition and power of attorney rules.
This tool is a sample legal agreement covering the issuance of phantom stock or stock that is based on a company's internal performance and reward measurements.
This sound advice will help entrepreneurs better manage inventory and improve profitability and cash flow.
Although the type of distribution channel you choose depends on your industry, type of products or services, and the business model, many entrepreneurs slightly adapt their distribution strategy to better meet the needs of customers.
This tool helps entrepreneurs determine the best means to distribute their products and services.
Want to get connected? Sign up to receive regular news, polls and updates from The Kauffman Foundation.
A robust online curriculum for entrepreneurs.
Explore Founders School >
A network of U.S. cities facilitating a weekly entrepreneur education program. Go to 1 Million Cups >
Whether you are starting or growing a company, FastTrac will help you live your dream at each stage.
Get started with FastTrac >