The excitement of launching a business can be as overwhelming as the day-to-day demands of making the new venture work. At the outset, it can be difficult to imagine that a new product, vendor deal or client account could lead to complications that would put your personal assets or, worse yet, the personal assets of your loved ones at risk. This is the kind of nightmare scenario faced by business owner Nicola DiCosola and his wife when an appellate court affirmed a $1.2 million judgment against DiConsola as an individual.

Choosing a business structure is a decision that should be made on the basis of a variety of considerations, including the present and future needs of an organization. There are no one-size-fits-all solutions in this area, since all business structures are associated with unique advantages and limitations. It is advisable to compare and contrast the attributes that are important to your organization and to choose accordingly with the knowledge that the decision, while not permanent, may have long-term ramifications.