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Chapter 6. Launching Your Online Store > Choosing a Legal Entity

Choosing a Legal Entity

As you're chasing down a name you should also be deciding what type of business structure you will have. A number of good business manuals available in any bookstore can give you an idea of what certain structures provide and what they don't. We suggest also that you consult a lawyer, not only to advise you on what type of business best fits your needs, but also to take care of the paperwork. Most lawyers provide these services for a reasonable price (in the neighborhood of $500, possibly less) with the hope that, as your business grows, so will theirs.

Joe's Take: A lawyer will also give you the simple paperwork needed to apply for a tax identification number. Unless you absolutely can't afford it or would rather do a pile of grinding work yourself, a lawyer is worth it. Obviously those people who can't find anything nice to say about lawyers never tried to start a business.



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