Tessmer Tips for New Business Startups: Are you an entrepreneur with a dream? If you are considering starting your own business, there are legalities to consider. Before you start your business, decide on an ownership structure. Ownership structures legally establish a company as an official business. Common structures, such as partnerships, limited liability companies and corporations provide business owners with legal protection. An appropriate business structure not only offers certain tax benefits, but it also provides business owners with personal protection against lawsuits or liability claims from clients or other parties.