Liability insurance

current economic environment the best option for the formation of her company is that of a Limited Liability Company, or LLC. This is because it offers the pass-through tax status and the safety of liability protection of a corporation. This would allow her to only be taxed once like a sole propriety or a partnership, which helps small-business owners keep their earnings. However, remove the personal liability as any action against the business can only act against the business and not Shania…

Limited liability companies are actually a form of legal entity that can be viewed as both a mixture of a general partnership and a corporation. LLC’s combine those two businesses kind of like a melting pot to take the best of what each has to offer. I believe that…

A major disadvantage of a partnership is unlimited liability. General partners are liable without limit for all debts contracted and errors made by the partnership. For example, if the partner of Greater’s owned only 1 percent of the partnership and the business fails, they would be called upon to pay 1 percent…

1.0 Company Description 1.1 Legal Form of Business Power Hour Fitness will be a Limited Liability Company (LLC) consisting of three members, Nicole Bauman, Salena Kreitler, and Kelsey Schmidt. This form of business will provide a great advantage for Power Hour Fitness as it is a hybrid of certain features of a corporation and a partnership. As a Limited Liability Company, the three associates avoid major risks such as within a partnership where partners are responsible for all debts. Instead,…

the company differently entirely. A limited liability partnership would have allowed the two partners to form a legal business that absolved them of personal liability but maintained the conditions of the partnership, however shares could not have been given to a third party. Separately the company could have simply been two LLC’s engaged in a joint venture or a tenants in common structure. This would have allowed the to work together but manage liabilities and assets separately. The preferred…

into three types firstly manufacturing raw materials, secondly producing finished goods and thirdly providing business services such as British Airways.BA which was a state undertaking previously, which was later converted to a company with limited liability(whose shares are listed in the share market) after privatisation in…

Chaymae Essaid 61418 February 2, 2016 Public Limited Corporation (La société anonyme) The public company is a business company by its form with any possible purpose. It is made for the large companies and the associates, called shareholders, which are responsible for the social debts only concerning the amount of their contributions. The legal characteristics of the company is very marked, its operation is narrowly regulated by law 17/95 of the 8/30/96 published in the B.O. n° 4422 of the…

Partnership Characteristics “A partnership is defined as an arrangement in which two or more individuals share the profits and liabilities of a business venture, where all partners might share liabilities and profits equally, or some partners may have limited liability” (partnership). The characteristic of the taxation in partnership business clear in finding its advantage and disadvantage to general partner business. In comparison to sole proprietor, a partnership business has an advantage…

Alternatives One option in pursuing their long term partnership is to form a non-equity alliance. This is a horizontal alliance that is strategic, limited in scope and basically an agreement for both companies to share their resources while remaining independent organizations. Leica and Huawei are complementary to each other’s products but operate in the same industry. Therefore, it would be beneficial and easier if they were to operate as separate organizations rather than going through the…

Let's examine this additional closely as a result of the potential liability may be ugly. Assume that a sole man of affairs borrows cash to control however the business loses its major client, goes out of business, and is unable to repay the loan. the only real man of affairs is responsible for the number of the loan, which…