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Archives for Business Forms


Partnership

Posted by admin on Tuesday, October 6th 2009     

Partnership is the simple form of business where two or more people pool their resources to carry out a trade, occupation or profession for profit. However, co-ownership of property is excluded (such as joint tenants of a piece of land) as well as non-profit unincorporated associations (such as labor unions and charitable organizations).
Unlike a corporation, [...]

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Sole Proprietorship

Posted by admin on Saturday, September 5th 2009     

For sole proprietorships there is only one owner of the business and the owner does not share power or decision making with other owners. In the case of sole proprietorships the business is not a separate legal entity apart from the owner. 
The advantages of a sole proprietorship compared to other business forms is that

It is [...]

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Forming a Limited Liability Company (LLC)

Posted by admin on Saturday, September 5th 2009     

If you have a business and you want to protect your personal assets from any law-suits arising out of the operation of your business or from their real estate investment, the Limited Liability Company is the commonly chosen business form to achieve that in the states. It has its origins in the German equivalent, the [...]

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