Topic

Legal Structure in a business (Licensing Software)

Instructions

Read pages 331-332 and 339-344 of Legal Environment of Business.

Consider the following as you read:

Business formation should be considered with risk tolerance in mind. Read this chapter and consider when and which of the business forms are best for various start-ups.
What are the risks of not licensing the software you use at work and for personal use?

Write a main post (200 words long).

Answer preview

Choosing a legal structure is one of the most critical decisions an individual should make when beginning a business. Notably, an individual’s choice will be founded partly on the tax effects in addition to how tax an individual is willing to shoulder. It is clear that sole proprietorship has the simplest legal structure because the business income and expenses are include on the owner’s personal income tax return.

Word count: 209