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Business Law Fact: Business law is a term used to describe the laws which regulate how businesses are run.

LLC Fact: LLC is an abbreviation for Limited Liability Company, and is one of the most popular business structure forms.

Corporation Fact: A corporation is an entity with the legal authority granted by a state to act as a single person distinct from the individual shareholders who make up the corporation.

C Corporation Fact: A C corporation is a corporation that is taxed at the corporate level rather than the shareholder level.

Partnership Fact: A partnership is a type of business structure that requires little paperwork and where the partners are taxed as individuals.

Sole Proprietorship Fact: A sole proprietorship is a business structure in which the owner is taxed individually.

Nonprofit Organizations Fact: A nonprofit organization is set up to avoid paying taxes; however, taxes still must be paid upon profits.

Business Tax Fact: Business tax is a complicated field, though the tax code offers scores of loopholes if you know how to find them.

Commercial Law Fact: Commercial law consists of the rules, laws, and regulations that apply to commercial transactions.

Franchising Fact: A franchise is a business in which a franchisor provides a license for the franchisee to do business and offers assistance and organization.


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