Why Business Organization Law?
The law of business organizations is more than under standing basic business structure, however. Related legal issues include business regulation issues, required licenses and permits, and filing requirements. Paralegals are often charged with the responsibility for overseeing these aspects of business operation. These activities are premised on a sound grasp of the differences in business organizations.
A business organization is simply the form in which a company chooses to do business. The form of the business affects the exercise of the business owner's rights and privileges as well as defining the business owner's responsibility for debts and obligations. There are three main forms of business organization: sole proprietorships, partner organization — ships, and corporations. The newest form of business the limited liability entity — is simply a variation of the three basic forms of business organization.