Before forming a new collaboration, assessing a potential partner's financial picture—and putting the right safeguards in ...

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 ...

When first cousins Peter Guidi, 60, and JJ Mokarzel, 62, decided to launch a bourbon company, Joe Louis Spirits, in Old Orchard Beach, Maine, they each drew from experiences with prior ...

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.

Starting a business is like learning a new language. You’ve got all these terms thrown at you—Inc., LLC, DBA—and it can feel like you’re drowning in alphabet soup. But don’t worry, this guide is here ...

The LLC arose from business owners' desire to adopt a business structure permitting them to operate like a traditional partnership. Their goal was to distribute income to the partners (who ...