Limited liability partnership

Corporation is a business separated from its owners. Corporations can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets and pay taxes. Advantages of a corporation is it is a limited liability that protects owners from losing more than they invest. The business can achieve large sizes due to marketability of stocks. It receives certain tax advantages. Has greater access to financial resources allows growth within the company. Attracts employees with specialized…

Case Study Three: Arcadia Sports In the case of Jeb and Josh in the formation of Arcadia Sports, there are issues concerning the business entity and liability to Jane, who suffered an accident during an excursion with Arcadia Sports. It is unclear what type of business has been formed between Jeb and Josh and what liability each may have for the accident and what personal assets would be involved considering Jeb’s bankruptcy. Therefore, the main types of business entities, including advantages…

Limited Liability Companies (LLCs) Advantages of LLCs A limited liability company (LLC) is seen as “combining the most advantageous features of partnerships and corporations” (Kubasek, Browne, Herron, Dhooge, Barkacs, 2015b, p. 266). Perhaps the most significant aspect is the variety of choices the LLC has upon its inception which are included in the operating agreement. “[T]he enormous flexibility and contractual nature of the LLC may provide advantages such as clearly negotiated and defined…

Penalties for Rules Violations The commissioner may impose penalties for violation of the insurance laws (these include the unfair claims settlement practices rules). Penalties may be imposed against both insurers and agents. Insurer (Insurance Company) Penalties In addition to license revocation, suspension, or refusal to renew a license, the state insurance commissioner/director/administrator may fine an insurer violation of insurance rules and regulations. Producer Penalties The…

The form of business that Shania should engage in to open up her coffeehouse should be a limited partnership. If she were to open as a sole proprietor, although inexpensive, she is liable for everything that happens to her business, and she is the only one dependent upon supplying the necessities for the business to operate. These necessities include: the capital to start the business, property, and all other factors that are required to get a business started. By reaching out to her husband,…

pleases. Always partnership one member with full responsibility. There may be members of the limited partnership with limited liability. The profits are distributed according to the percentage of ownership. Tom and Bill hardware store is an example of partnership. If the same man slips fall in advertising on the saw Tom and Bill hardware store, both of which are fully responsible for the damage. However, if they are of limited partnership, then Tom only responsible. In a limited partnership, it…

: Who accords for the liability? Who can be held responsible? The notion of corporate personality does not obviously create liability on artificial persons. Logically, a company cannot be put behind bars or prosecuted for its criminal acts. Thus, their arises a need for the identification of the persons who are guilty of the offence and are hiding behind the facade of…

Walexron is large, multi-faceted and multi-national corporation. Large corporations regularly deal with ethical and legal issues, and often have their own guidelines and procedures in which they deal with these issues. Each case is different, and will rely on corporate law, guidelines and procedures to determine the outcome of each case. In the case of Manual Perez, he is arguing that he was wrongfully terminated due to complaining about illegal practices in which Walexron engaged.…

Whether it be a sole proprietorship, partnership, or corporation they all make a difference in other people’s lives. From Apple to a small café everybody is interacting with business. Each of them have the same role in our…

Long-term perspective One of the advantages of being a private firm is that the firm only has to disclose limited information about its operations. Blackstone operates its investment on a long-term basis why the firm has a lot of variability in its earnings. As an example, a fund usually has a return that can be visualized in a “J-curve”, meaning that the fund…