As the business grows, it can become complicated and outgrow the partnership structure. The LLC, which stands for Limited Liability Company, is one of the most common small business structures. A sole ...

Personal liability is a major concern if you use a general partnership to structure your business. Like sole proprietors, general partners are personally liable for the partnership's obligations ...

Limited partnership business structures must adhere to specific legal requirements but other types of partnerships can create ...

Alok Patnia founded Taxmantra.com, an expert in tax advisory & compliance. He is a Chartered Accountant having prior exposure with Ernst & Young & KPMG. Starting your own business? One of the ...

A joint venture (JV) is a business entity created by two or more parties to accomplish a project. A JV is essentially a partnership (though it can be formed from any legal structure), wherein each ...

Flexibility for the business: Land can be licensed or leased to a limited company or partnership. The trading entity doesn't ...

Replacing their partnership structures with a corporate one would be a giant leap forward. It would turbocharge the legal function’s integration with business and elevate its impact on customers.