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Small Business Law

Business law is an area that governs the creation, regulation, winding up, and liability of corporate entities. This area of law addresses such issues as the rights and duties of shareholders, limited liability, taxation, and control and management.

Questions concerning the legal structure of a business frequently arise in the area of forming a new business. A corporation is one of a number of organizational forms available for carrying on business. Each form has its own advantages and disadvantages. Some of the more common business organizations are: Sole proprietorship, General partnership, Limited partnership, Limited liability partnership, Corporation, Professional corporations, and Limited liability companies.

A franchise, on the other hand, is a license from owner of a trademark or trade name permitting another to sell a product or service under that name or mark. The franchise undertake to conduct a business or sell a product or service in accordance with methods and procedures prescribed by the franchisor.

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