Legal Structure

Legal structure refers to the framework of laws and regulations that governs the creation and operation of organizations, such as businesses or non-profits. This includes the ways entities are formed (like corporations or partnerships), their legal responsibilities, liability in case of debts or lawsuits, tax obligations, and governance. Understanding the legal structure is crucial for compliance and for determining how an organization operates, makes decisions, and interacts with stakeholders. Different structures offer varying levels of protection and benefits, making the choice of legal structure an important decision for any entity.