2008 may be the year that Google’s innocence ends, as media and governments start to cast a less forgiving eye at the behavior of the company that controls 60% of the search market and perhaps as much as half of all online advertising revenue.

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THE NEW YORK TIMES is reporting that Google will cut about 300 jobs from the American operations of DoubleClick, the ad tech company it acquired last month for $3.1 billion.

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In the conclusion of a bidding war said to have lasted for weeks, Google beat Microsoft to purchase ad serving company DoubleClick for $3.1 billion in cash. The move leaves Google’s competitors reeling, and opens up striking possibilities. It is not without its risks, however.

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You’ve dedicated your sweat and hard work, your industry knowledge, your savings and energy to your new business. Every last detail is taken care of and you are ready to throw open the doors to the marketplace.

But wait. Have you thought through what kind of business entity you might want down the road? How is your business legally structured? What happens to you, your partners, and your business in the event of a lawsuit?

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Partnership is a voluntary collaborative agreement between two or more parties in which all participants agree to work together to achieve a common purpose or undertake a specific task and to share risks, responsibilities, resources, competencies and benefits.

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Every business conducts its affairs as a particular kind of business entity (or business structure). The organizational form that you choose determines which tax and legal regulations will apply.

For tax purposes the IRS gives a choice of the following kinds of business structures:

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