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The dimensions and scope of the business agency and its structure, administration, and ownership, broadly analyzed within the concept of the firm Generally, a smaller business is more flexible, whereas larger businesses, or those with wider ownership or extra formal buildings, will usually are usually organized as corporations or (much less typically) partnerships. In addition, a business that wishes to lift money on a inventory market or to be owned by a variety of individuals will typically be required to adopt a particular legal type to take action.