Ankur has passed out MBA from a premier institution. He wants to become an entrepreneur but he is confused in choosing the form of ownership. Advise Ankur on the aspects which he should consider before deciding the form

One of the first decisions that is faced by an entrepreneur is how the business should be structured. All businesses must adopt some legal configuration that defines the rights and liabilities of participants in the business's ownership, control, personal liability, life span and financial structure. This decision will have long term implications, so he has to select the form of ownership that is right for him. In making a choice, he (in our case, Ankur) should take into account the followings: His vision regarding the size and nature of business; The level of control he wishes to have; The level of structure", he is willing to deal with; The business's vulnerability to litigation; Tax implications of the different organizational structures; Expected profit or loss of the business; Whether or not, he will need to re-invest earnings into the business; and His need for access to cash out of the business for himself.