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The dimensions and scope of the business firm and its construction, administration, and ownership, broadly analyzed within the concept of the agency Typically, a smaller business is more flexible, whereas bigger businesses, or those with wider ownership or more formal constructions, will normally are typically organized as corporations or (less usually) partnerships. In addition, a business that wishes to raise cash on a stock market or to be owned by a wide range of individuals will often be required to undertake a specific authorized kind to do so.