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Chapter 4. Preparing Your Company Overview > Identifying Your Company - Pg. 32

32 Chapter 4. Preparing Your Company Overview In this chapter: · · · · Learn how to describe your company identity and current situation Learn how to identify funding sources and strategic alliances Learn how to identify and describe regulatory and legal issues affecting your business Write the company or division overview for your business plan A business plan should provide the reader with a description of the company that plans to do the business. Too many plan writers confuse the company description with the business description. The company description describes what the company is and the business description details what the company does. You learn how to write the business description in Chapter 5, "Describing Your Product or Service." Whether you're writing a business plan for a new or existing company, you should include a section that provides a company description and background. You also need to include this section in an internal business plan and use it to describe the division or department's role and responsibilities. note All plan types include a company or division description, company history and/or present situation, regulatory and legal issues, potential funding sources, and strategic alliances. So let's look at what goes into the company description section of your business plan. To do list · Learn how to choose a legal form for your business · Learn how to describe your business type · Learn how to describe your company or division's history and present situation · Learn how to identify regulatory and legal issues Identifying Your Company A business plan must provide basic information about a company or division that includes its name, the date it started, the legal form of organization, the type of business, and its location. If your company is an existing one, then a short history of your company or division is appropriate here.