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Several services under one corporation

Asked by: NEWMAN  — 3 May, 2012

Does each service under a corporation need to be its own company?

Answered by: admin  — 3 May, 2012

Dear Newman,

Although its not necessarily a requirement to have a separate legal entity for each line of business, it is generally recommended to organize each business as its own corporation or LLC.

Having all the businesses run under one legal entity complicates accounting, creates additional liabilities for the other businesses under that entity, and might make it harder to sell each of the businesses later on.

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