Understanding the Limited Liability Corporation Business Structure

Understanding the Limited Liability Corporation Business Structure

The limited liability business structure includes the limited liability corporation (LLC) and the limited liability partnership (LLP). Both of these business structures have gained immense popularity since their introduction to the United States 1978. The concept of limited liability business structures originated in Germany, and is currently a favored choice for start-up and more established … Continue reading »
Why Create a Business Plan

Why Create a Business Plan

Creating a business could be one of the most important things you do in your life. So it would only make sense to spend time planning it. Most entrepreneurs initially develop a business plan as a way of describing their business precisely. A business plan is a statement of your business goals, the reasons you … Continue reading »
Understanding the Partnership Business Structure

Understanding the Partnership Business Structure

Partnerships are legally defined entities where at least two individuals share a business. All individuals share in the liability, management and profits of the business. The most common partnership is a general partnership, where all individuals share unlimited liability. Because of the unlimited liability in a general partnership, usually all partners will be active in … Continue reading »