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1. Question
You are an experienced insurance broker who has worked with small town brokerages and national brokerages. Recently he was offered the opportunity to purchase a brokerage in his hometown. One of the first decisions you face is the legal structure for the brokerage and is considering either a sole proprietorship or an incorporated company. What are these types of organizational structures and what are the advantages and disadvantages that you must consider in making his decision? What would your decision be?
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