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How To Choose the Right Business Legal Structure

Sole Proprietor, LLC, C Corp, S Corp, and Trust


 

Choosing the right business structure resource

Business structure is crucial to any organization as it determines how the company operates and interacts with its stakeholders. Several factors influence the choice of business structure, including tax considerations, governance characteristics, and the design of the business model. The chosen legal structure determines how the business will be taxed, the owner's personal liability protection level, and the management flexibility. This article will explore the different business structures available, including Sole Proprietor, LLC, C Corp, S Corp, and Trust. By understanding each structure's characteristics, advantages, and implications, you can make an informed decision that aligns with your business's specific needs and goals.


 

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Did you Know? “86.6% of companies adopt the sole proprietorship legal structure 1 ”, which means they are 100%, personally, liable and exposed for all business liabilities & losses.

Intenovate™ Inc. specializes in business development and provides dedicated assistance in choosing the proper legal structure for your business. Intenovate™ Inc.’s professionals can guide you through the decision-making process and ensure your business has a solid foundation for future growth and success. Visit Intenovate™ Inc.’s website to learn more about services and how Intenovate™ Inc. can help you navigate the complexities of business legal structures.


Understanding Different Business Structures

Let's face it: No one likes to overpay taxes. Tax avoidance is a significant consideration for businesses when determining their structure (Desai & Dharmapala, 2006). Research has shown that firms affiliated with pyramidal structures engage in more tax avoidance activities than non-affiliated firms (Mindzak & Zeng, 2019). Additionally, the “tax treatment of intercorporate dividends can shape the structure of business groups” (Desai & Dharmapala, 2006). These are just a couple of the reasons you must take the importance of tax considerations in determining the business structure seriously. To choose the most suitable legal structure for a business, it is essential to clearly understand the options available.

Let's take a closer look at each of the business structures:

Sole Proprietor:

A sole proprietorship is the simplest and most common business structure. It is owned and operated by a single individual, with no legal distinction between the owner and the business. While it is easy to set up and maintain, the owner is essentially 100% personally liable for all business debts and liabilities. From a tax perspective, the owner reports business income and expenses on their personal tax return.


Example: Mark's Landscaping Services, a Sole Proprietorship

Mark operates a landscaping service as a sole proprietor. Here's how this business structure works and how Mark is personally at risk for business liabilities:


  • Business Ownership: Mark is the sole owner and operator of Mark's Landscaping Services.

  • Profit: In a busy year, the business makes a profit of $60,000.

  • Pass-Through Taxation: As a sole proprietor, Mark reports the $60,000 profit on his personal tax return.

  • Personal Taxation: Mark's individual tax rate is 25%, so he pays $15,000 in federal income tax on the $60,000 profit.

  • Unlimited Personal Liability: Mark is personally responsible for any business debts and liabilities, and there's no legal separation between his personal and business finances.

  • Personal Liability Risk: Suppose Mark's business inadvertently damages a client's expensive outdoor furniture while providing landscaping services. The client decides to sue Mark's business for the cost of the damaged furniture, which amounts to $10,000.

In a Sole Proprietorship, Mark's personal assets, including his savings, home, and personal property, are at risk to cover this debt if the business does not have sufficient funds to pay the settlement.


This personal liability risk is a vital characteristic of the Sole Proprietorship business structure. While it offers simplicity in terms of business operations and taxation, it also means that the owner's personal assets are vulnerable in the event of business-related legal issues or debts.



LLC (Limited Liability Company)

An LLC is a popular choice for many small businesses. It provides personal liability protection to its owners 4 , members, shielding their personal assets from business liabilities. Additionally, LLCs offer the advantage of pass-through taxation, where the profits and losses of the business are reported on the owners' personal tax returns 5. This structure allows for the combinations of limited liability protection, like that of a corporation, with the flexibility and semi-simplicity of a partnership ( we won't discuss partnerships this time).


Example: Lisa's Graphic Design Studio, an LLC

Lisa operates her graphic design studio as a single-member LLC, which offers limited liability protection. Here's how this business structure works and how Lisa's personal assets are protected:

  • Business Ownership: Lisa established Lisa's Graphic Design Studio as a single-member LLC for the flexibility of management and limited liability protection.

  • Profit: In a successful year, her studio makes a profit of $80,000.

  • Pass-Through Taxation: As a single-member LLC, the $80,000 profit passes through to Lisa's personal tax return.

  • Personal Taxation: Lisa's individual tax rate is 30%, so she pays $24,000 in federal income tax on the $80,000 profit.

  • Limited Liability Protection: Suppose a client of Lisa's Graphic Design Studio claims that one of Lisa's designs led to a copyright infringement issue, and they decide to sue the business for $20,000 in damages.

In this case, Lisa's personal assets, such as her personal savings, home, and personal property, are generally protected from being used to satisfy the business's debts or legal obligations. The client's claim is typically limited to the assets of the LLC, preserving Lisa's personal financial security.


Limited liability protection is a crucial benefit of the LLC structure. It ensures that personal assets remain separate from the business's financial matters, safeguarding the owner's personal wealth in the event of business-related legal issues or debts.



C Corp (C Corporation):

A C Corp is a separate legal entity from its owners, who are also called shareholders 6. It provides personal liability protection to shareholders, meaning their personal assets are generally not at risk for business debts and liabilities. One of the great features of a C Corp is its ability to raise capital by selling shares of stock. However, C Corps are subject to double taxation. The corporation is taxed on its profits, and shareholders are taxed again on any dividends they receive.


Example: Tech Innovators Inc., a C Corporation

Tech Innovators Inc. is a technology company structured as a C Corporation. , which offers unique limited liability protection. Here's how this structure works and the implications for taxation:

  • Business Ownership: The company's shareholders holding collective ownership.

  • Business Profit: The company generates $1,000,000 in profits.

  • Limited Liability Protection: Say Tech Innovators Inc. is involved in developing innovative tech products. Unfortunately, one of the products they release has a design flaw that results in a malfunction, causing financial losses and potential legal liabilities for the corporation. A customer who suffered financial losses due to the product malfunction. The customer seeks $50,000 in damages. Shareholders, including Alice, the founder, and other investors, are generally protected from personal financial responsibility for the corporation's debts and legal claims. Their personal assets, such as savings, homes, and personal property, are not typically at risk.

  • Corporate Taxation: As a C Corporation, Tech Innovators Inc. is subject to corporate income tax. Let's say the corporate tax rate is 21%, resulting in a $210,000 tax liability.

  • Dividends and Shareholder Taxation: To distribute profits to shareholders, the company pays dividends. Shareholders, including the founder, Alice, receive $790,000 in dividends.

  • Double Taxation: Alice pays individual income tax on her dividends. Let's assume a 15% tax rate on dividends, resulting in an additional $118,500 in taxes.

In summary, by choosing to structure her technology company as a C Corporation, Tech Innovators Inc. faces corporate-level taxation, which can lead to double taxation when profits are distributed to shareholders. The business itself pays corporate income tax, and then shareholders pay individual income tax on dividends received.


That being said, a tech startup aiming to attract venture capital and eventually go public would benefit from a C Corp. By choosing to structure the business as a C Corp, they can issue different classes of stock, attract investors, and retain earnings for future growth. Although they will face double taxation, the benefits of access to capital and the potential for significant growth outweigh the tax implications.


S Corp (S Corporation):

An S Corp is another popular option, especially for small to mid-sized businesses. Like an LLC, an S Corp offers personal liability protection to its owners, who are called shareholders. However, the main advantage of an S Corp is its ability to avoid double taxation. The Profits and losses are, then, passed through to shareholders' personal tax returns (using a schedule C 7). To qualify for S Corp status, specific IRS criteria must be met, including limitations on the number and type of shareholders 8 . An S Corporation is a tax designation for eligible small businesses. It is not a distinct business entity like a sole proprietorship, partnership, or C Corporation. Instead, it's a tax classification that allows a business to pass its income, deductions, and credits through to its shareholders. Beware of the strict regulations around S Corporations.


Example: Amy's Coffee Shop, an S Corporation

Amy owns and operates a small coffee shop. She decided to structure her business as an S Corporation. Here's how this benefits her and her business in terms of taxation:

  • Business Ownership: S Corporations are subject to strict ownership restrictions. They can have a maximum of 100 shareholders. This means that there can be up to 100 individuals or entities who own shares in the company. In the case of Amy's Coffee Shop, Amy is both the sole owner and operator of the business. Here's what these roles entail:

    1. Sole Owner: Amy is the single shareholder of her S Corporation. This means she owns all the shares of the company, making her the exclusive owner. As the sole owner, she has ultimate control over business decisions and operations.

    2. Operator: Amy not only owns the business but also actively manages and operates it. She makes day-to-day decisions, handles the coffee shop's daily operations, and has full responsibility for the business's success. This role as an operator makes her not only the owner on paper but also the driving force behind the business's activities.

  • Business Profit: Amy's Coffee Shop makes a profit of $100,000 in a given year.

  • S Corporation Status: Since Amy's Coffee Shop is an S Corporation, it avoids corporate-level taxation. This means the business itself doesn't pay federal income tax on the $100,000 profit.

  • Pass-Through Income: Instead of the business being taxed at the corporate level, the $100,000 profit "passes through" to Amy, the sole shareholder. Amy reports this income on her personal tax return.

  • Amy's Personal Taxation: Amy's individual tax rate is 25%. So, she pays $25,000 in federal income tax on the $100,000 profit.

  • Avoiding Double Taxation: In contrast, if Amy had structured her coffee shop as a C Corporation, the business would have been subject to corporate income tax on the $100,000 profit at the corporate tax rate (let's say 21%). This would result in a $21,000 corporate tax liability.

  • Dividends and Double Taxation: In a C Corporation, if Amy wanted to access the remaining $79,000 profit personally, she would need to pay herself a dividend. Dividends are then taxed again at her individual tax rate. Assuming a 15% tax rate on dividends, she would owe an additional $11,850 in taxes, resulting in double taxation.

  • Limited Liability Protection: In the event that Amy's Coffee Shop faces financial difficulties, lawsuits, or other liabilities, the business's assets, profits, or insurance policies are typically used to cover these obligations. Amy's personal assets are usually shielded from being used to resolve these business-related issues.

In summary, by choosing to structure her coffee shop as an S Corporation, Amy avoids the double taxation that C Corporations face. The business's profit flows through to her personal tax return, and she only pays taxes once at her individual tax rate. This allows her to retain more of her business earnings and simplifies the taxation process for her small business, and still protects her personal assets.



While S Corporations offer valuable tax benefits and liability protection, they come with more stringent regulations and requirements. Business owners considering this structure should be prepared for the additional administrative responsibilities and the need to maintain careful compliance with these regulations to preserve the advantages of S Corp status.



Trust:

Trusts can also be used as a business structure, depending on the specific goals and circumstances of the business. A trust is a legal entity that holds property or assets for the benefit of others, known as beneficiaries. While trusts are commonly associated with estate planning, they can also be utilized for business purposes. The characteristics and considerations of trusts as a business structure may vary depending on the type of trust.


Example: The Johnson Family Trust

The Johnson family established a trust to manage their family's assets. Here's how this structure works and the implications for taxation:


  • Asset Management: The trust holds various assets, including real estate, stocks, and bonds, for the benefit of the Johnson family members.

  • Income and Distribution: The trust generates $50,000 in income from investments each year.

  • Taxation: The trust is a separate legal entity for tax purposes. It must file its own tax return and pay income tax on the $50,000 income. Let's assume a trust tax rate of 37%, resulting in a $18,500 tax liability.

  • Distribution to Beneficiaries: The trust can distribute income and assets to the Johnson family beneficiaries according to the trust's terms.

  • Taxation at Beneficiary Level: When distributed to beneficiaries, the income may be subject to individual income tax, depending on the beneficiaries' tax brackets.

In summary, the Johnson Family Trust provides a structure to manage family assets, with income subject to trust-level taxation. When distributed to beneficiaries, the income may be subject to individual income tax at their respective tax rates.



It's worth noting that choosing the right business structure involves considering various factors, including personal liability protection, tax implications, management control, and long-term goals.


Resources to Help You:
- Financial Forecasting Tool: Assess your financial readiness.
- State's . Gov site: Each State has unique regulations for business structure.


Take Action: Evaluate your business's readiness . Download our comprehensive 'Business Mindset Checklist' and ensure you're on the right path.

Pros and Cons of Each Business Structure

Each business structure has its own set of advantages and disadvantages. Understanding these pros and cons is crucial in selecting the proper structure for your business. Let's examine the benefits and drawbacks of each structure:

LLC:

While one of the advantages of an LLC is personal liability protection because the owner's personal assets are shielded from business debts and liabilities, it's important to note that some states impose limitations on the life of an LLC 9 , and compliance requirements may vary. Another potential drawback of an LLC is the self-employment tax that owners must pay on their share of the profits. This tax can be significant, especially as the business grows. Additionally, the flexibility of an LLC can lead to challenges in decision-making if there are multiple owners with conflicting interests. Nevertheless, for many small businesses, the benefits of personal liability protection and pass-through taxation outweigh these potential drawbacks. Do keep in mind that many LLCs are not properly formed. Unfortunately, when using a "file for you" service, too often, the reporting mandate gets "forgotten."

(Read New LLC Reporting Requirements) For instance, The Fee for a NYC LLC starts with the fee for filing the Articles of Organization, which is $200. There's also the filing publication fee of $50 per publication AND the actual publication fee (subject to whatever the newspaper states).

"Section 206 of the Limited Liability Company Law requires a copy of the Articles of Organization or a notice related to the formation of most limited liability companies to be published in two newspapers for six consecutive weeks. .... Failure to publish and file the Certificate of Publication with the Department of State within 120 days will result in the suspension of the LLC's authority to carry on, conduct or transact business."10,11


S Corp:

An S Corp offers personal liability protection to its shareholders, similar to an LLC. It also provides the advantage of pass-through taxation, allowing profits and losses to be reported on the shareholders' personal tax returns. This can result in potential tax savings. However, it's essential to meet the IRS criteria to qualify for S Corp status, including restrictions on the number and type of shareholders 12.

One potential drawback of an S Corp is the requirement to pay a reasonable salary13 to shareholders who are actively involved in the business. This salary is subject to employment taxes, including Social Security and Medicare taxes. While the remaining profits can be distributed as dividends, they are not subject to employment taxes. This structure requires careful tax planning and compliance to ensure that the shareholder-employees are compensated appropriately. I will be honest; it is a tremendous amount of paperwork, but in my opinion, the best option next to a trust.


Sole Proprietor:

One of the main advantages of a sole proprietorship is its simplicity. It is easy and inexpensive to set up and maintain. The owner has complete control over all aspects of the business and can make decisions quickly 14 without consulting others. Additionally, all profits belong to the owner, providing the potential for higher income. However, the owner is personally liable for all business debts and liabilities, putting their personal assets at risk.

A significant drawback of a sole proprietorship is the absence of personal liability protection. If the business incurs debts or legal liabilities, the owner's personal assets can be seized to satisfy those obligations. In addition, the owner may face challenges in raising funds for the business, as they cannot sell shares of stock like a corporation.


C Corp:

One of the advantages of C Corps is they have the ability to raise capital by selling shares of stock 15 , making it an attractive option for businesses seeking outside investors. Moreover, C Corps offer flexibility in terms of tax planning, setting salaries, providing benefits, selling the business, and offering stock options to employees.

Aside from one of the main drawbacks of a C Corp, the potential for double taxation, the corporation is taxed on its profits, and shareholders are taxed again on any dividends they receive. ... C Corps have more compliance requirements and formalities compared to other structures, which may involve additional paperwork and administrative costs.


Trust:

The benefits and drawbacks of a trust as a business structure can vary depending on the specific type of trust and its purpose (we will do a separate article specifically on Trusts). Some potential advantages include the ability to provide asset protection, flexibility in distributing income, and potentially favorable tax treatment. Trusts can be useful for businesses that have unique requirements or goals. However, as we discovered with the Johnson Family trust, the characteristics and considerations of trusts as a business structure can be complex, and professional advice is crucial to navigate these intricacies.


It's important to carefully evaluate the pros and cons of each business structure based on your specific needs, goals, and circumstances. Work with someone who can provide specialized guidance in evaluating these factors and help you make an informed decision.



Legal and Tax Implications of Different Business Structures

The legal and tax implications of each business structure are important considerations when making your decision. Let's explore these implications in more detail:

  • LLCs and Corporations: LLCs and corporations offer personal liability protection, which separates business debts and liabilities from the owners' personal assets. This protection provides peace of mind and financial security. LLCs enjoy the advantage of pass-through taxation, where profits and losses flow through to the owners' personal tax returns. On the other hand, corporations, including C Corps, have separate legal entities and may be subject to double taxation.

  • Compliance Requirements: Each business structure has its own compliance requirements and paperwork. LLCs and corporations typically have more formalities and reporting obligations compared to sole proprietorships and partnerships. Compliance requirements may include filing annual reports, maintaining minutes of meetings, and adhering to specific accounting standards. It's essential to understand the compliance requirements associated with each structure and ensure that you fulfill them (Your state's .gov site will have your specifics).

  • Professional Guidance: Navigating the legal and tax implications of different business structures can be complex. It is highly recommended to seek professional guidance from attorneys, business developers, and accountants who specialize in business law and taxation. They can help you understand the specific legal and tax implications of each structure and ensure that you comply with all applicable laws and regulations.


Determining the Best Business Structure for Your Needs

Choosing the best business structure requires careful consideration and evaluation.

  • Assess Personal Liability, Tax Implications, and Management Preferences: Consider your level of personal liability protection, the tax implications you prefer, and the desired level of management control. Assess your comfort level with personal liability and evaluate how much control you want to have over the decision-making process.

  • Evaluate Future Growth Plans, Funding Needs, and Long-Term Goals: Consider your plans for future growth, the need for external funding, and your long-term goals. Evaluate how each structure aligns with your growth objectives and funding requirements. Some structures may be better suited for attracting investors and raising capital.

  • Consider the Number of Owners and Profit-Sharing Arrangements: Determine the number of owners involved in the business and evaluate the preferred profit-sharing arrangements. Consider how each structure accommodates your desired ownership structure and profit-sharing agreements. Some structures offer more flexibility in this regard.

  • Address Potential Changes in Ownership or Business Expansion: Anticipate potential changes in ownership or future business expansion. Evaluate how each structure accommodates potential changes in ownership or the need for expansion. Consider the flexibility and scalability of each structure.

  • Seek Professional Advice: Certain industries have specific regulations and compliance requirements that may influence your choice of structure 16. Consider the industry-specific regulations and compliance obligations that apply to your business. Different structures may have different legal requirements, reporting obligations, and industry-specific restrictions. Consulting with professionals, such as attorneys or tax advisors, is essential in making an informed decision. They can provide valuable insights and guidance based on their expertise and experience. Professional advice can help you navigate the complexities of business legal structures and ensure that you make the best decision for your specific needs.

Making the Right Choice for Long-Term Success

Choosing the proper legal structure for your business is a critical decision that will have long-term implications(17) for its success and growth. Equally as important, changing your business structure involves a multitude of legal, tax, and operational considerations. From compliance requirements and tax implications to employee considerations and intellectual property concerns, these complexities require careful planning. This is why it's crucial to consider all aspects and establish a strong foundation. It's not as simple as acquiring a free EIN; there are serious implications when going into business, and a well-thought-out transition can help you navigate these complexities effectively. Consulting with legal and tax professionals is vital to ensure a seamless and legally compliant change in business structure. It is essential to carefully evaluate factors such as personal liability, tax implications, management control, and future goals. By understanding the characteristics and implications of each business structure, you can make an informed choice that aligns with your specific needs and objectives.





 

Glossary

  • Articles of Incorporation: Legal documents filed with the state to officially create a corporation. They outline essential details about the business, such as its name, purpose, management structure, and registered agent.

  • Articles of Organization: Legal documents filed with the state to officially create a limited liability company (LLC) or a corporation. They outline essential details about the business, such as its name, purpose, management structure, and registered agent.

  • Beneficiary: A person or entity designated to receive assets or benefits from a trust, will, or insurance policy upon the occurrence of specific events or conditions.

  • Board of Directors: The board of directors is a group of individuals elected or appointed by shareholders to oversee the management and decision-making of a corporation.

  • Bylaws: A set of rules and procedures that govern the internal operations of a corporation or organization. Bylaws typically address matters like shareholder meetings, director roles, and decision-making processes.

  • Corporate Governance: The system of rules, practices, and processes by which a company is directed and controlled. It involves balancing the interests of various stakeholders, such as shareholders, management, customers, and regulators, to ensure the company's long-term success.

  • High Net Worth Individual: An individual with a substantial amount of wealth, typically measured by assets or investments, which often provides access to various financial opportunities and services.

  • Holding company: A company whose primary purpose is to own and control other companies, known as subsidiaries, by holding a significant portion of their stocks or assets.

  • Pass-Through Taxation: A taxation method where business profits and losses "pass through" the business entity to the individual owners' or shareholders' personal tax returns. This is common in structures like sole proprietorships, partnerships, S Corporations, and some LLCs.

  • Pierce the Veil: A legal doctrine that allows courts to disregard the corporate form and hold shareholders or owners personally liable for a corporation's actions or debts under certain circumstances.

  • Registered Agent: A designated individual or entity responsible for receiving legal documents, such as service of process and official government notifications, on behalf of a business entity, ensuring that important communications are promptly delivered to the business.

  • Shareholder: A person or entity that owns shares (equity) in a corporation and, as a result, has a stake in the company's ownership and financial performance, and has voting power.

  • Single-member LLC: A limited liability company with only one owner or member, providing limited liability protection while allowing pass-through taxation.

  • Stock Certificates: Official documents issued by a corporation to shareholders to certify their ownership of a specific number of shares in the company. While physical stock certificates are less common today, electronic versions are used for the same purpose.

  • Trust Document: A legal document that outlines the terms and conditions of a trust, including the trust's purpose, beneficiaries, assets, and the responsibilities of the trustee.


 

Considering the strength of your business foundation and how it impacts your growth trajectory?


Intenovate Inc. specializes in business development and provides dedicated guidance in choosing the proper legal structure for your business. Intenovate Inc.'s professionals can help you navigate the complexities of business legal structures, ensuring that you have a solid foundation for future growth and success. Visit Intenovate Inc.'s website to learn more about services and how Intenovate Inc. can assist you in making the best decision for your business. Choose the proper legal structure for your business and set the stage for long-term success.



 

Disclosure:

The insights and recommendations provided in this series are based on extensive research and experience. However, every business is unique, and outcomes can vary. For a more personalized approach, consider reaching out to our team. This article is not intended to be legal or financial advice.


For those who prefer auditory learning or have accessibility needs, we're pleased to offer an audio version of this article. At, Intenovate Inc, we believe in inclusivity and making knowledge accessible for everyone.

 

Sources:

  1. https://www.hostinger.com/tutorials/small-business-statistics

  2. Desai, M., & Dharmapala, D. (2006). Corporate tax avoidance and high-powered incentives. Journal of Financial Economics, 79(1), 145-179. doi:10.1016/j.jfineco.2005.02.002 2. Mindzak, M., & Zeng, Y. (2019).

  3. Mindzak & Zeng,(2019) Pyramid ownership structure and tax avoidance among Canadian firms. Accounting Research Journal, 32(3), 472-492. doi:10.1108/ARJ-02-2017-0036

  4. Delaware LLC: 7 Top Benefits to Start Your Business » Edueasify. https://edueasify.com/start-a-delaware-llc-7-top-benefits/

  5. Demonstrate Knowledge and Understanding of Legal Forms of Business - Led-portal. https://led-portal.eu/demonstrate-knowledge-and-understanding-of-legal-forms-of-business/

  6. https://taxfoundation.org/taxedu/glossary/c-corporation-c-corp/#:~:text=A%20C%20corporation%20or%20C%20corp,or%20realized%20as%20capital%20gains.

  7. "Schedule C (Form 1040) Profit or Loss from Business." IRS, www.irs.gov/forms-pubs/about-schedule-c-form-1040.

  8. IRS, www.irs.gov/businesses/small-businesses-self-employed/s-corporations.

  9. "LLC Compliance Requirements: A State-by-State Guide." Northwest Registered Agent, www.northwestregisteredagent.com/llc-compliance.

  10. https://dos.ny.gov/forming-limited-liability-company-new-york

  11. Articles of Organization for Domestic Limited Liability Company | Department of State. https://dos.ny.gov/articles-organization-domestic-limited-liability-company-0

  12. "S Corporation." IRS, www.irs.gov/businesses/small-businesses-self-employed/s-corporations.

  13. "Reasonable Compensation for S Corporation Shareholders." IRS, www.irs.gov/businesses/small-businesses-self-employed/reasonable-compensation-for-s-corporation-shareholders.

  14. Advantages or Disadvantages of sole proprietorship for accounting or small businesses - New Mags. https://newmags.org/advantages-or-disadvantages-of-sole-proprietorship-for-accounting-or-small-businesses/

  15. Advantages and Disadvantages of a Corporation - businessnewsdaily.com | Blog Hồng. https://bloghong.com/Advantages-and-Disadvantages-of-a-Corporation--businessnewsdailycom-1660015419

  16. "Industry-Specific Regulations and Compliance: Key Considerations for Businesses." Deloitte, www2.deloitte.com/us/en/pages/regulatory/articles/industry-specific-regulations-compliance.html.

  17. 7 Reasons to Hire a Business Attorney for Your Startup - Smith Barid. https://smithbarid.com/7-reasons-to-hire-a-business-attorney-for-your-startup/


 


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About the Author:

Paradise Rodriguez-Bordeaux

Founder/CEO

Intenovate™ Inc. , A Paradise Company™

Best-selling author, entrepreneur, and thought leader.


Paradise Rodríguez-Bordeaux, recipient of the 2018 Woman of Strength and 2022 Human Rights Activist awards, firmly believes, "Sustainability is the bare minimum." Spearheading initiatives that prioritize sustainable business growth and innovation, Paradise’s leadership at Intenovate™ has been instrumental in guiding the company and its clients toward understanding and solidifying their foundational strengths before embarking on expansion. In the language of being #IntentionallyInnovative, Paradise has positioned Intenovate™ Inc. to be a sound asset for clients; leveraging strategic solutions for sustainable profitability.


Beyond her corporate endeavors, Paradise is a passionate advocate for those who have faced adversity and discrimination. With over 15 years as a philanthropist, she supports organizations championing poverty alleviation and human rights. Paradise firmly believes that "We need to consistently produce effectively efficient solutions. This world, the communities, it's all of our responsibility. Leaders HAVE to lead," encapsulating her vision for responsible leadership.





 

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