This document discusses different types of business entities and factors to consider when choosing an entity for a client's business. It covers liability, costs, and control associated with sole proprietorships, general partnerships, limited partnerships, limited liability partnerships, corporations, and limited liability companies. For each entity type, it provides a brief description and assessment of suitability based on the three factors. The top takeaways emphasize that sole proprietorships and general/limited partnerships generally should be avoided due to unlimited liability and high capital costs, while limited liability companies and corporations are more flexible and protective options for most businesses.