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A limited liability company ( LLC) is the United States -specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. [ 1 ] An LLC is not a corporation under the laws of every state; it is a legal form of a ...
There are many types of business entitiesdefined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companiesand other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province.
Most legal jurisdictions specify the forms of ownership that a business can take, creating a body of commercial law for each type. The major factors affecting how a business is organized are usually: The size and scope of the business firm and its structure, management, and ownership, broadly analyzed in the theory of the firm. Generally, a ...
Corporate law. A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by only one person and in which there is no legal distinction between the owner and the business entity. [ 1] A sole trader does not necessarily work alone and may employ other people.
Business ownership within England and Wales. There are many ways in which a business may be owned under the legal system of England and Wales . Different types of ownership are suitable for organisations depending on the degree of control the owners wish to have over the business. The choice of ownership method also relates to the organisations ...
small business: an organization that is small (in employees or revenue) and may or may not have the intention to grow. Many small businesses are sole proprietor operations consisting only of the owner, but many have additional employees. Some small businesses that offer a product, process or service, do not have growth as their primary objective.
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
Pages in category "Business ownership". The following 7 pages are in this category, out of 7 total. This list may not reflect recent changes .
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