One difference between an LLP and an LLC is that with the latter, you can also be held liable for your co-owner's actions. With an LLP, you're not personally responsible for your partner's bad decisions. The LLP will probably have to take out liability insurance or a bond when you s...
In this guide, we show you the difference between an LLC and a Professional LLC, or PLLC.COMPARING LLCS AND PLLCS What is an LLC? A limited liability company (LLC) is a registered business entity that offers owners the limited liability protection of a corporation and the pass-through taxa...
Can I just put an Inc. or LLC in my business name?No, you cannot simply put an Inc., LLC, LLP or other business designated mark at the end of your business name. Those marks indicate a style of ownership structure for your business and aren't actually part of the business name. ...
Wondering whether to form a limited liability company (LLC) or a partnership? Learn how LLCs compare to partnerships, and which one may be best for you.
(LLC) orlimited liability partnership(LLP), it’s the name on the LLC or LLP formation papers you file with the state. By filing those papers, you officially designate your business’s legal name. This is also the name that appears on your tax ID or employee ID paperwork and is the ...
A business is not an actual legal entity, even though it may operate with a DBA or trade name. The type of business can make a difference. For this reason, larger businesses will often form their own LLC or LLP to gain these same protections that corporations enjoy. They can rest easy ...
New Mexico LLC: How To Set Up a New Mexico LLC in 11 Steps General partnership vs. limited partnership FAQ What are the main differences between general partnerships and limited partnerships? Both are popular partnership arrangements and each have their own pros and cons. The main difference betw...
For example, consider a lawsuit over a breach of contract. If the plaintiff can clearly prove that a contract between the two parties existed, that the defendant broke a clause of that contract, the defense has no evidence to the contrary and the plaintiff suffered losses because of that brea...
What Is the Difference Between Warranty Deed & Trustee Deed? How do I Pass a House to Someone Else After Death? The Advantages of LLP Over LLC for a Law Firm How to Reverse a Quit Claim Deed Warranty Deeds A general warranty deed conveys full ownership of land, and is commonly used in...
Ponzi and pyramid schemes are similar but not identical. The essential difference between the two frauds is that aPonzi schemegenerally only requires investment in something from its victims, with promised returns at a later pay date. Pyramid schemes, unlike Ponzi schemes, usually offer a victim ...