What’s the best way to incorporate your business?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
From The MBA Mondays Archive – AVC

When you start a business, it is important to recognize that it will eventually be something entirely different than you. You won’t own all of it. You won’t want to be liable for everything that the company does. And you won’t want to pay taxes on its profits. Creating a company is implicitly recognizing those things. It is putting a buffer between you and the business in some important ways.