In order to protect your company, you need to be familiar with common legal issues in your industry. You will also need to know how to supply the correct legal forms to your vendors as well as your...

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In order to protect your company, you need to be familiar with common legal issues in your industry. You will also need to know how to supply the correct legal forms to your vendors as well as your customers.


Respond to the following in a minimum of 175 words:



  • Identify a legal form that is necessary for a small business.

  • What impact does this form have on your business?

  • What would happen if a customer or vendor did not comply with the form?

  • Where can a small business go for more information about this type of form?

Answered Same DayFeb 09, 2021

Answer To: In order to protect your company, you need to be familiar with common legal issues in your industry....

Sumita Mitra answered on Feb 09 2021
122 Votes
2
Legal form for small business:
In every small business selecting the legal form is the key depending on the business entities and structure of its resources and assets. There are various legal forms that are available to the entrepreneurs and select one which can either be a sole proprietorship, partnership or a corporation. This is one of the first step and decision that a small business owner takes to form his business entity.
The legal form that is being discussed here is the...
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