Before starting their activity, entrepreneurs must choose the legal form of their business. Thus, any person may start a business either by registering for tax purposes as an individual entrepreneur or by establishing a legal entity. As an individual entrepreneur, you manage the business under your own name and all responsibility lies personally with you. Therefore, you bear risk with your own property. When establishing a legal entity, you determine the scope of your liability and your participation share in the legal entity in accordance with the chosen organizational and legal form. In the form of a limited liability company, which is the most commonly used form, your risk is limited to the share you have contributed to the authorized capital. In addition, other organizational.
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