Before a small business opens its doors, many business owners face an important decision: Will they structure their business as a limited liability corporation (LLC) or a limited liability partnership ...

A limited liability partnership provides the owners of a small business partnership benefits that a general partnership does not. To understand the structure of a limited liability partnership, it's ...

A managing partner filed an involuntary chapter 7 petition against a professional limited liability partnership. The bankruptcy court denied the petition and dismissed the case based on its ...

A limited liability partnership (LLP) limits the scope of exposure that general partners must face due to partnership debts, liabilities and malpractice. Texas enacted the first ever LLP law in 1991.

Lindsey Crossmier has been a financial writer since 2022, and has been regularly quoted as an expert in outlets such as U.S. News, GOBanking Rates and Yahoo! Finance. She leverages her Yale financial ...

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Two important principles governing corporate entities are: (1) the entity is legally distinct from its owners; and (2) the entity’s property and assets belong to the entity, not its owners. These ...

A business organization that allows limited partners to enjoy limited personal liability while general partners have unlimited personal liability A limited partnership is similar to a general ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. The formation of LLCs has become increasingly common in various corporate structures. They ...

A limited liability limited partnership is a hybrid of various business entities. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take ...

The choice will have important implications for your legal exposure, management structure and, ultimately, your bottom line. Many, or all, of the products featured on this page are from our ...