I always thought when someone starts their own business, they can run it however they see fit.
But then I learned about these types of companies (S-corporations, C-corporations, LLCs, etc) with all these complicated rules.
So businesses can’t just govern themselves however they want? Like why do corporations have to have a board of directors (whad if a company doesn’t want one)? Man, that’s so damn restrictive!
In: Economics
You *can* just “run your company” as a sole proprietorship. Incorporation, however, gives you legal & financial advantages. If the government is going to grant you special privileges, they’re allowed to put conditions on how you must run your business.
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