How to Choose the Best Legal Entity for Your Business Choosing a legal entity can be complicated, but it can help protect your business's assets. Attorney Mark Kohler explains.
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While determining which legal entity is best for your company can get complicated, it's important to protect your business's assets. Attorney and CPA Mark Kohler recommends thinking of it in two ways: short term -- such as selling a product or service -- and long term -- including buying property and making investments. For short term ventures, Kohler suggests starting with a sole proprietorship. For longer ventures, he says you'd most likely want to go with a limited liability company (LLC).