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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BUSINESS LAW Limited and Unlimited Liability Cleverness In This Article What Does ‘Liability’ Mean? Unlimited Liability Limited Liability What Does ‘Liability’ Mean? 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 (liable) […]
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BUSINESS LAW – Business Entities Choosing A Business Entity Cleverness In This Article Why Are Business Entities Important? The 4 main types of business organization Choosing a Business Entity Why Are Business Entities Important? It is important for business owners to understand the main differences between business organizations and which business organization is best for […]
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