Have a concept and am starting a business but the LLC/S-Corp/other kinds of ownership models are just so confusing to me.
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That’s a hefty question with a lot of answers. Basically though, it’s the amount of liability you have, protecting your personal finances should something happen to your business. Corp’s have to have a board as well, keep minutes, have elected members …etc. They’re very different. If you’re not sure which you need, you’re not ready. Talk to a business lawyer and run your idea by them, see what they suggest.
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