You've got your business up and running, and you've thought of everything - from the marketing strategy down to the paper clip vendor.

But now it's time to step back and look at the big picture - what should be the legal structure of your business? This brings us to incorporation.

While the decision to incorporate may not have a big impact on the day-to-day operations of your business, the implications will become obvious when tax season arrives, when you apply for a loan, or if you are hit with a lawsuit.