Even though a franchise location is associated with a larger brand, its owners hold responsibility for forming a business entity.

For example, in Virginia, if you have a LLC, S corp, C corp or other formal business structure, you must fill out a Certificate of Assumed or Fictitious Name – Business Conducted by Entity form.

A sole proprietorship is a business entity where all liabilities and financial obligations pass to the single owner of the business. Those choosing a sole proprietorship are usually in low ...

Most firms are limited liability corporations these days, but a significant chunk of older firms are c-corporations. Experts share the key factors involved with the options.