3. company law in the usa
3. company law in the usa

... 1) Created under state law (Articles of Organization) 2) Recognized in all 50 U.S. states 3) Owners are called “members” * Respective shares, duties, power, etc. are spelled out in an Operating Agreement (function like corporate “bylaws”) ...
An LLC is a hybrid business entity which has characteristics of both
An LLC is a hybrid business entity which has characteristics of both

... If you decide to set up an LLC, your liability depends on the amount you have invested. For example, you invest $100,000 into your business but it goes through tough times after a year and you decide to close. Before you close the business you may have to pay your creditors. But they can only make c ...

Limited liability company

A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs do not need to be organized for profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a very similar entity called a Professional Limited Liability Company (PLLC).