One of the most important decisions that an entrepreneur needs to grapple with when starting a business is choosing what type of entity the business should be. The reason this decision is so significant is because it affects the three-letter word that business owners (...

For well over a century, the Western world, led in large part by the United States’ unyielding economic development in the post-war 20th century, has ascribed to the ideals of a free market economy, which fosters entrepreneurial behavior and calculated risk-taking. Bot...