Final answer:
Starting a business involves substantial risks, especially in terms of personal liability and asset protection.
Explanation:
Risks associated with starting and operating a business can be substantial and non-trivial. When individuals establish a business as a sole proprietorship or partnership, they are personally liable for business debts and damages, risking their personal assets. However, forming a corporation provides a legal shield from personal liability, as shareholders' personal assets are not at risk.
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