Definition ∞ Legal entity structure describes the organizational framework that defines a business’s legal standing, ownership, liability, and operational governance. Common structures include sole proprietorships, partnerships, corporations, and limited liability companies. The chosen structure impacts tax obligations and investor relations.
Context ∞ For projects operating within the digital asset ecosystem, selecting an appropriate legal entity structure is a complex and crucial decision. The structure determines how the project interacts with regulators, manages liabilities, and distributes control among participants. The challenge often lies in adapting traditional legal forms to the decentralized and distributed nature of many blockchain initiatives, or advocating for new legal frameworks.
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