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When incorporating your small business, the name of your corporation must comply with the rules of your state's corporation division. You should contact your state's office for specific rules, but the following guidelines generally apply.
The name cannot be the same as the name of another corporation on file with the corporations office.
Types of Ownership Structures
Learning about the various types of legal structures available for your business: corporation, LLC, partnership and sole proprietorship.
To decide on an ownership structure for your small business, you must learn about how each structure works. Here are the forms of doing business:
Dearborn Heights sole proprietorship
MI partnership
Dearborn Heights limited partnership
Michigan limited liability company (LLC)
MI corporation (for-profit)
Michigan nonprofit corporation (not-for-profit)
Dearborn Heights cooperative.
Forming and operating an LLC or a corporation is a bit more complicated and costly, but well worth the trouble for some small businesses. The main benefit of an LLC or a corporation is that these structures limit the owners' personal liability for business debts and court judgments against the business.
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