From ashes do flowers bloom. And so it is with America's small business culture. As industries "downsize" much of the slack is taken up in the form of small business enterprises.
The form of business entity impacts individual liabilty, management and control, and income taxation of the owners. Planning with professional advice can protect against later surprises and large tax bills.
Depending upon the form selected, entity formation may involve simply a contract between the owners or may require the filing of documents in the office of the secretary of State.
Death, disability and dissatifaction are key events in the life cycle of a business entity. Before getting locked in a business relationship, understand when and how you can get out.
Terminations and dissolutions are to business entities what divorce is to living people. They are not nice and they certainly cost money. But as long as people continue to disagree terminations and dissolutions can provide an orderly means of ending stalled business relationshps.