Business Structure
Business Structure refers to the legal framework within which a business operates, defining how the company is organized, managed, and controlled. It includes various elements such as ownership, management, decision-making processes, liability, and taxation. Different types of business structures include sole proprietorships, partnerships, corporations, and limited liability companies, each with its own set of advantages and disadvantages. The choice of business structure can have significant implications on how the business is run, its ability to raise capital, and the personal liability of its owners.