Hi! My name is… Today, we are going to talk about… Entity formation is an important issue that all businesses should consider. The reason people need an entity is to and liability from creditors or legal issues. Once creating an entity, commonly known as corporations or also known as LLCs, and various other related entities, is to protect yourself from being sued by creditors and losing your personal assets. The formation of that should be Each one has its advantages and disadvantages from a legal perspective, formality perspective, and tax advantages. The takeaway from this is that an entity formation is and is a good business practice.