When you buy a business, one of the first things to consider is the legal form you will use to own and operate the activity.

The choices range from a sole proprietorship to a corporation.

If the business you are buying will become part of an existing entity (such as an existing LLC or corporation), you may not need the information in this article. Otherwise, please keep reading.

The Sole Proprietorship Option

Before reflexively moving on to other entity choices, give some consideration to using the sole proprietorship form of doing business instead of a liability-limiting entity such as a corporation.

Sometimes it is wiser to stick with the ... Log in to view full article.