By law, a corporation is considered a legal entity that is separate and apart from the owners. Corporations are chartered in the states in which they are headquartered. Corporations can be taxed and sued. Corporations also frequently enter into contractual
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A sole proprietorship is the simplest business entity. The owner and the business are one and the same. A sole proprietorship is an unincorporated business owned by one individual. The individual, known as the sole proprietor, usually
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There must be two or more individuals to form a partnership. A partnership can be entered into intentionally; however, individuals do not need to consider themselves a partnership
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