The purpose of this paper is to create a personal liability exposure matrix then compare and contrast the personal liability exposure of an owner of each type of business sole proprietorship, general partnership, limited partnership, corporation, and limited liability corporation. This paper will also analyze how to limit the personal liability exposure of the owner of five separate business structures. The following five types of business organizational structures are covered; sole proprietorship. To form a corporation each member has limited liability, but the corporation has full liability. Forming a partnership requires at least two people, which. This paper will cover the advantages and disadvantages within the four types of business structures; Limited Liability Corporations, Corporations, Partnerships, and Sole Proprietorships.
Essay about “Limited Liability Company”
Limited Liability Sample Clauses
Limited Liability Corporation and Partnership In the United States, limited liability companies increased rapidly throughout the past 10 years. Limited liability can apply to any non-corporate business, in any state, and provides characteristics of a corporation and a partnership. Individual states regulate the operations of the LLCs. However, companies with limited liability are different and distinct from a sole proprietorship, partnership, and corporation.
Case 39 1 Limited Liability Company Siva V 1138 Llc
Entity Name. Initial Registered Office and Agent. Toggle navigation. State Gov't U. Forms Firms Schools.
Each state may use different regulations, you should check with your state if you are interested in starting a Limited Liability Company. Owners of an LLC are called members. Most states do not restrict ownership, so members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members.