Stephen Kaplan, P.C. Full-Service Business Law Firm
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Posts tagged "business formation"

Crucial traits of a successful business partnership

When choosing a business form for operations many business owners consider a partnership when first starting a business. It's a tempting proposition to have someone who can help share the workload and bring ideas to the table. It is also important to remember that the partners are jointly and severally liable for partnership obligations and actions. Using an LLC instead can minimize the exposure of the individual members for liabilities that are rightfully only that of the entity. That is why general partnerships are infrequently created now that LLCs can be more creative, useful and protective of the members.

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