a business created as a distinct legal entity and treated as a legal “person” is called a(n):

treated
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One of the key differences between a corporation and a partnership is the difference between the two levels of self-awareness. As a member of a partnership, you’re also a separate entity from the business.

One of the key differences between a corporation and a partnership is the difference between the two levels of self-awareness. As a member of a partnership, you’re also a separate entity from the business.As a member of a corporation, youre completely identified with the company: Youre on the payroll, your own boss, and are paid an hourly rate commensurate with your services.

One of the key differences between a corporation and a partnership is the difference between the two levels of self-awareness. As a member of a partnership, you’re also a separate entity from the business.As a member of a corporation, youre completely identified with the company: Youre on the payroll, your own boss, and are paid an hourly rate commensurate with your services.A corporation gives you the power to dictate how your company is run. This is a huge plus when youre starting out (and I think is pretty important for a company that has to build from scratch). As you grow, you no longer have this freedom. However, its also a disadvantage. Corporations are notoriously difficult to audit, which means they may have some money in the bank which they could use to pay off your personal debt.

One of the key differences between a corporation and a partnership is the difference between the two levels of self-awareness. As a member of a partnership, you’re also a separate entity from the business.As a member of a corporation, youre completely identified with the company: Youre on the payroll, your own boss, and are paid an hourly rate commensurate with your services.A corporation gives you the power to dictate how your company is run. This is a huge plus when youre starting out (and I think is pretty important for a company that has to build from scratch). As you grow, you no longer have this freedom. However, its also a disadvantage. Corporations are notoriously difficult to audit, which means they may have some money in the bank which they could use to pay off your personal debt.Corporations are also notoriously hard to get rid of once you are in charge, because they are so closely tied to your personal assets. This means you have a lot of risk and a lot of potential liability. It also means you have to be extremely careful as the government may just take your corporate stock and use it to settle personal litigation.

One of the key differences between a corporation and a partnership is the difference between the two levels of self-awareness. As a member of a partnership, you’re also a separate entity from the business.As a member of a corporation, youre completely identified with the company: Youre on the payroll, your own boss, and are paid an hourly rate commensurate with your services.A corporation gives you the power to dictate how your company is run. This is a huge plus when youre starting out (and I think is pretty important for a company that has to build from scratch). As you grow, you no longer have this freedom. However, its also a disadvantage. Corporations are notoriously difficult to audit, which means they may have some money in the bank which they could use to pay off your personal debt.Corporations are also notoriously hard to get rid of once you are in charge, because they are so closely tied to your personal assets. This means you have a lot of risk and a lot of potential liability. It also means you have to be extremely careful as the government may just take your corporate stock and use it to settle personal litigation.I am a huge fan of the idea of taking your personal assets and turning them into a legal entity, but that’s just one of many reasons why I prefer to avoid corporations. Corporations are a lot more complicated than an individual’s personal assets, and you have to worry that the government will use your personal assets to settle personal litigation which you could have avoided with a corporation.

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