Refer to our articles to find out the difference between each company type.
Partnerships and Joint Ventures are mandatory for anyone starting an organization with partner(s). Partnership You create a shared business, which remains the property of all respective founders for the duration of the business unless assets or rights are bought/sold/traded to another member. Partnerships are ideal when you have a straightforward desire to start a business …
LLC or Limited Liability Company is a flexible business structure affording protection and various tax-filing options. LLCs can be owned by one or more people and can be filed as a single-member LLC or a multi-member LLC. LLCs have several advantages that a limited liability structure works to protect you from lawsuits, double taxation, and …
Corporations are legal entities established by charter with certain legal rights, powers, privileges, and liabilities. Corporations can be established in several formats but always become their own entity with independent legal rights and obligations. Corporations can be more difficult than other business options in that they have defined structures which you must maintain, however, they …
Corporations are legal entities established by charter with certain legal rights, powers, privileges, and liabilities. Corporations can be established in several formats but always become their own entity with independent legal rights and obligations. Corporations can be more difficult than other business options in that they have defined structures which you must maintain, however, they …
A sole proprietor or individual is a person doing business as an organization. The person is not separate from the company and the company is not incorporated or registered with the state as an LLC or corporation. As a sole proprietor, the business does not exist separately from the owner. This imposes several risks and …
Estate An estate is a legal entity designed to protect a person’s assets such as real estate, personal property, and funds after their death. Estates pay debts and distribute assets to the beneficiaries of the estate. Trusts Trusts are legal entities created under state law and taxed under federal law. Trusts can be used similarly …
Corporations are legal entities established by charter with certain legal rights, powers, privileges, and liabilities. Corporations can be established in several formats but always become their own entity with independent legal rights and obligations. Corporations can be more difficult than other business options in that they have defined structures which you must maintain, however, they …
