Asked by Colleen Laferty on Mar 10, 2024

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When first starting out in business, lawyers often begin their business as a

A) sole proprietorship.
B) limited liability corporation.
C) non-profit organization.
D) corporation. .

Sole Proprietorship

A business structure where a single individual owns, manages, and is responsible for all aspects of the business, including liabilities.

Limited Liability Corporation

A business structure where the owners have limited personal liability for the debts and actions of the corporation.

Corporation

A corporation is a legal entity that is separate from its owners, offering limited liability to its shareholders and having the ability to own property, sue, and be sued.

  • Acquire knowledge on the essential types of business organization, such as sole proprietorship, partnership, and corporations.
  • Recognize the legal and operational implications of working in a sole proprietorship.
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BE
Brandi Elmore-Heydenreich

Mar 10, 2024

Final Answer :
A
Explanation :
When first starting out in business, lawyers often opt for a sole proprietorship due to its simplicity and ease of setup, allowing them to operate individually without the need for complex legal structures or significant startup costs.