12:49 When choosing a legal entity you should consider (check all that apply)* 10 points Level of "structure" and formality you are prepared to manage Expense, in time and money of forming and maintaining the business entity Business's vulnerability to lawsuits and other liabilities or obligations Tax implications of the different ownership structures Whether you will need to re- invest earnings into the business Your need for access to cash from the business for personal use How much money you plan to make and take from your None of these options apply