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Creation of New Enterprise/Legal Entity with existing Setup

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Creation of New Enterprise with existing Setup 

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We are looking to create new enterprise/legal entity to define into our existing setup, can some one share the points to be takes care for this.

Also, if I am creating the new enterprise/Legal Entity, can we use the same employee record to be used for both entity or we need different employee records to be created for this?

Any Inputs much appreciated.

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