Trusts were traditionally businesses with significant market power. However, this term has gained several new meanings in modern economics. Here is what you need to know: A Trust Explanation: A trust for a business’s purposes is a legal entity, which can be a company or person that can manage, and administer another company’s assets. The trust company acts as an agent for the other company within the guidelines that are set by both parties. Trusts also exist for individual purposes. For instance, if a minor is set to inherit an estate, he or she would be overseen by a trust- who in this case can be a group or individual who has been given specific instructions on what to do, and not do, while acting in the minor’s best interest. What do Trusts Actually do? In addition to simply holding assets, a Trust can help with the investment and asset management. Working with a Trust can be very helpful if you are growing a small business and are looking to break into the larger market.