Research Paper Topics on Culture

Are fiduciary relationships established by law, by fact, or by other means?

Question
Need roughly one paragraph answer for each.

Are fiduciary relationships established by law, by fact, or by other means? Why is this an important point?
Similar to the concept of an LLC is another popular form of business organization for professionals such as doctors, attorneys and engineers known as a PC. What is it, and why is it a popular option?

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