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The scale and scope of the business agency and its structure, management, and ownership, broadly analyzed in the principle of the firm Generally, a smaller enterprise is more versatile, whereas larger businesses, or those with wider possession or more formal structures, will usually are usually organized as corporations or (much less often) partnerships. In addition, a business that wishes to lift money on a inventory market or to be owned by a wide range of individuals will usually be required to adopt a specific authorized form to take action.