Understanding business entities is essential to the effective planning, formation, growth, and continued management of a business venture. This text provides a straightforward guide for entrepreneurs, managers, and professional practitioners who need a thorough understanding of the key attributes of the most common types of business entity. It covers issues including: entity formation, governance, location, maintenance, ownership, control, authority, liability, compensation, taxation, and funding. It also discusses the use of specific entity types for startup ventures, where to form the business entity, and doing business in multiple states. The text is organized in an easy-to-read, question-and-answer format that breaks down the elements of each business entity into small digestible pieces. Following an explanation of the applicable rules, the text includes simple examples to help the reader understand the relevant principles.