Posted on September 26, 2011
The term corporation comes from the Latin corpus, which means body. Historically, in England, the term corporation was also used for the local government body in charge of a borough. A corporation is a body–it is a legal… Read More
Category: Business Formation Tags:
Posted on September 26, 2011
The limited liability company (LLC) is America’s newest form of business organization. There is little historical precedent for LLCs. They are essentially creations of the state legislatures, although some commentators trace the origin of the LLC to a… Read More
Category: Business Formation Tags:
Posted on September 26, 2011
A partnership is a business form created automatically when two or more persons engage in a business enterprise for profit. Consider the following language from the Uniform Partnership Act: “The association of two or more persons to carry… Read More
Category: Business Formation Tags:
Posted on September 26, 2011
The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a natural person who owns the business and is personally responsible… Read More
Category: Business Formation Tags:
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