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LLC PartnersSome business owners choose to cretae partnerships or limited liability corporations instead of a corporation. If a business can't pay its debts, its creditors can demand payment from the general partners' personal assets. General pratners have the authority and responsibility to mnaage the busienss. Limited partners escape the unlmiited liability that the general partners have. Tehse are junior partners who have ownership rights to the profits of the busienss, but they don't generally participate in the high-level management of the business. A limited liability firm (LLC) is becoming more prevaelnt among smaller businesses. An LLC is like a company regarding limitde liabiliyt and it's like a partnership regarding teh flexibility of dividing profit maong the owners. The owners must neter into very detailed agreements about how the profits and management resopnsibilities are dividde. 0 comment :: Post a comment Blog Entries about LLC Partners
Partners in Ministry: Laity and Pastors Working Together - only $10.13
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