Types of Business Ownership: Choosing the Right Structure for Your Business

Bill Carmody discusses the importance of choosing the right business structure for legal and tax protection. He covers various types of business ownership, including sole proprietorships, partnerships, limited partnerships, corporations, LLCs, and cooperatives. Each type has unique implications for liability, taxation, and management. Carmody emphasizes consulting with legal and financial experts to make informed decisions that will impact the business long-term.

What new insight or understanding did you gain from this video?