![]() Limited Liability Company (LLC): An LLC offers the legal protection of a corporation and the tax treatment of a partnership.There are different forms of corporations, depending on how many owners there are. Corporation : A for-profit entity created to shield the owner(s) from liability should the enterprise become subject to a lawsuit.Partnership : A business run by two or more individuals or entities who share ownership-not necessarily equal ownership, however.Sole proprietorship : A company run by a single individual, typically for their benefit, with unlimited liability for any damages that occur as a result of the business’ operations. ![]() There are many forms of legal enterprises, with the most common in the U.S. People who have entrepreneurial success are often referred to as “enterprising.” Enterprise is another word for a for-profit business or company, but it is most often associated with entrepreneurial ventures.
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