Thanks everyone!
What do u guys think about Microsoft's recommendation. They say you should have a component which houses your business entities, which is basically just a thin object exposing public attributes. Then, there is another component, let's say business services, which handles all the communication with the data access layer and performing the actual business logic. The business enties are created and populated in the data access layer and passed back up the chain to the BL. The UI also creates this business entity objects, and passes them to the business services layer. I guess I am just trying to figure out whether to go this route or just have one business component, that performs the validation and business logic.
Any thoughts about this?