Limited liability

new as general partnership. The case study deals with presenting the benefits of Limited Liability Company and the reasons that make a limited liability company a better option. For the purpose of this case study a brief insight will be provided on the both the types of business that is the general partnership and the limited liability. Further, the paper will elaborate the benefit that choosing the limited liability option to start business will cater. Analysis of the Case Study

There are several categories under which business entities can be formed. Sole Proprietorship, Partnership (General or Limited), Limited Liability Companies (LLC) and S or C Corporations are the options entrepreneurs have to give legal form to their business. Each has distinctive characteristics on their tax treatment and legal procedures. The decision of what kind of entity form affects the daily operations and investment opportunities for the business, hence the importance of selecting the entity

There are four essential sorts of business possession: sole proprietorship, association, company, and Limited Liability Company. Every one has its focal points and disservices. In the event that you are to begin a business there are a couple of inquiries in which to ask yourself. What is your vision in regards to the size and nature of your business, the level of control you wish to have, the level of structure you are ready to manage, and so forth.? First and foremost, what is a sole proprietorship

Research question: What form of business configuration (Franchise or Limited Liability Company - LLC) is more effective, and which type will be more successful in this situation? Executive Summary There are several different aspects of Franchises and LLCs discussed including: how Franchises and Private Limited Companies are formed, taxation, profit distribution etc. I have assessed which form of business is more likely to be successful. I have also addressed the three sectors of production; Primary

Discussion Assignment You own and operate a small store. Currently, you are a single proprietor. What kinds of risks and liabilities are you facing? When a business is run as a single proprietor means that the owner is solely responsible and liable for the actions of the company. The risk and the liability are that the personal assets such as house, car, land, or bank savings are also part of the business. There is no legal separation of the assets between the business and the owner of the business

with a discussion of limited liability and examine the when the veil may be pierced after Prest. Next, it will discuss the current arguments calling for reform. The concept of limited liability was conceptualized to promote enterprise through limitation of risk. In many ways, the argument remains applicable today. As a detailed exposition is beyond the scope of this essay, this essay will examine the two major lines of debate. Firstly, the argument that limited liability encourages enterprise

Business can be run through different platform considering advantages the platform will offer. Limited liability Company is chosen over general partnership to be more advantageous. Limited Liability Company and general partnership are compared based on flexibility of business, continuity of business in case of transfer of ownership, and also the risk of possession of personal assets and risk of incurring business debt. 1.0 INTRODUCTION

A sole proprietor is one individual business that is not, like a corporation or limited liability company (LLCs). It does not have to be registered with the participating states in order to be existent; conferring to the Internal Revenue Service (IRS); in 2008, more than 22.6 million sole proprietors existed in the United States (Staff I., N.d.). A sole proprietorship type of business is the easiest to form, however, it is also the easiest to forget to register with the local government which is

these structure holding companies usually have control and influence over subsidiaries. Limited liability on the other hand, is the logical consequence of the existence of a separate legal entity or generally, the concept simply means that since the company is different from the shareholders, the members are only liable for the amount unpaid or their shares and not for the debts of the company When limited liability is easily and cheaply available can be explained as removing unnecessary legal bars

as: limited/general partnerships and corporations. • Limited liability partnership (LLP): In a LLP no general partners exist, only limited partners exist to create the business as a limited liability under this form of partnership. LLP’s are typically used for any professional type of business where all partners/owners (a minimum of two are required), have a voice in the taxation structure of the business. Pros and Cons In this section we will take a look at the pros and cons of an Limited partnership