There are six different ways you can make the leap from entrepreneur or small business to corporate status.  They range from a single owner or partnership to a corporation with many participants.

 Here is a list of the six types of corporate entities we’ll cover on our quest to learn if working toward the goal of incorporating is right for you:

* Sole Proprietorship
* General Partnership
* Limited Partnership (LP)
* Limited Liability Company (LLC)
* S Corporation
* C Corporation

More and more business owners are setting out to legally form their corporation on their own.  Technically, you don’t need the help of an attorney or financial advisor, but it’s often a good idea to have someone help you in the process.

Every year, hundreds of thousands of corporations are registered in the United States.  Almost every major company that is a household name is a corporation. 

Why? 

Because once you reach a certain level of success – or even have plans to expand your business to a more profitable entity – a corporation offers the most viable solution for risk reduction and ample benefits.
“There will come a time when big opportunities will be presented to you, and you’ve got to be in a position to take advantage of them.” ~Sam Walton, Founder of Wal-Mart and Sam’s Club
Having the ability to incorporate is a gift to your business.  Some people will delay the process – unwilling to learn or even hire someone to do it for them.  They are in a dangerous position.

In a day and age when people will sue for any reason – and win – all business owners should adequately prepare for the possibility that this is a situation that could happen to them.

It doesn’t have to be a scalding cup of hot coffee that launches a lawsuit.  Even an informational product is at risk for legal prosecution if the advice and information is found to be misleading or doesn’t live up to the promises it made.