In other words, it refers to the amount of risk an investor takes when he invests in a company. Depending on the way a company is organized, the owners can actually lose more than their investment if the company goes bankrupt.What Does Limited Liability Mean?
Furthermore, it’s much more complex and cost-intensive to set up a limited liability partnership than it is to set up a general partnership. What does unlimited liability mean? Simply put, unlimited liability means that there’s no limit to the amount of money you can be liable for. If...
Under this feature, a duly registered corporation becomes a separate organization from its owners. The law recognizes this separate entity as a different organization from those who own it. In legal jargon, this is known as ‘separate patrimony.’ What does that mean? Any resources that owners ...
File a DBA in every state where you do business.A DBA in one state does not protect you in any other states. Though the protections it offers are limited, filing a DBA application is one of the first steps toward safeguarding your business’s brand identity. Do it sooner rather than l...
Explain and discuss "Professional Liability". What is meant by contributory negligence? Under what conditions might this be a successful defense? What does the term unlimited liability mean when it is applied to partnership members? What are doubtful assets?
What is step-up in basis and how does it work?The“Step-up” in basis at the death of the property owner adjusts the initial cost of a property to the current market prices. It helps in avoiding capital gains taxes and affects beneficiaries at the time of liquidation of inherited propert...
What Does LLC Mean? Contents[show] This is a relatively new form of business compared to corporations. For a while many states did not recognize LLCs as legitimate business entities. Today most states have special rules for limited liability companies that allow owners a few different benefits....
Understanding Unlimited Liability Unlimited liability typically exists ingeneral partnershipsandsole proprietorships. It provides that each business owner is equally responsible for whatever debt accrued within a business if the company is unable to repay or defaults on its debt. An owner's personal weal...
Does my entrepreneurial venture meet local regulations and laws? If not feasible locally, can I and should I relocate to another region? How long does it take to get the necessary license or permissions from concerned authorities? Can I survive that long? Do I have a plan for getting the n...
Securities and Exchange Commission to registered investment advisers and registered representatives working for broker/dealer, as required by the Dodd-Frank Wall Street Reform. It states that advisers are held to a fiduciary standard making them legally bound to put the clients' financial interests ...