Limited Liability Company (LLC) This is similar to a limited partnership, and gives owners limited liability but has some of the capital income advantages of a partnership. There are no restrictions on the number of members and investors can share in the management of the business. The letters LLC must be included in the business […]
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Before we continue with the remaining business entities it is important to understand what is meant by the terms, ‘Unlimited and Limited Liability. Liability means that someone is legally responsible for the debts or actions of the business. Unlimited Liability This usually refers to Sole Proprietors and Partnerships where the business owners are fully responsible […]
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This is the first article in our Business Law series. This section covers the different types of business legal entities (legal types of business). It is important for business owners to understand the main differences between business organizations and which business organization is best for them as it affects: How the business is taxed. The […]
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