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The newest contender: the legal liability company. (limited liability company) (Legal Ease)
THE NEWEST CONTENDER: THE LEGAL LIABILITY COMPANY
It's too early to tell if the limited liability company (LLC) will become a serious option for small and mid-sized businesses. Still, you may want to know what one looks like.
It's best to think of an LLC as a partnership whose partners enjoy freedom from personal liability, like shareholders of a corporation. But wait a minute: Can't we accomplish that by setting up a limited partnership or an S corporation? Well, yes and no.
Example #1: John, Mary, Jim, and Carol form a limited partnership. Since every limited partnership needs at least one general partner, John becomes the general partner; Mary, Jim, …
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- PC, LLC or LLP? the choice is yours. (professional corporation, limited...
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Magazine article from: Outlook
Schmalz, Roberta
September 22, 1995
700+ words
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- California grudgingly crawls aboard the LLC bandwagon. (limited liability...
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Magazine article from: Outlook
Brown, Kenneth C.
September 22, 1994
700+ words
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- The Michigan Limited Liability Company: a new way of doing business.
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Magazine article from: Michigan CPA
Cambridge, James R.
June 22, 1993
700+ words
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- New company format cuts liability worries. (limited liability company)...
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Magazine article from: Business First-Columbus
Sydney, Kristen J. Sanders, Terry L.
September 26, 1994
700+ words
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- Songa Offshore registered as a European Limited Liability Company.
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News wire article from: Europe Intelligence Wire
December 12, 2008
700+ words
