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Such corporations must identify themselves as professional corporations by including "PC" or "P.C." after the firm's name. [1] Professional corporations may exist as part of a larger, more complicated, legal entity; for example, a law firm or medical practice might be organized as a partnership of several or many professional corporations.
The articles of organization document typically includes the name of the LLC, the type of legal structure (e.g. limited liability company, professional limited liability company, series LLC), the registered agent, whether the LLC is managed by members or managers, the effective date, the duration (perpetual by default in most states), and the ...
The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. As a business entity, an LLC is often more flexible than a corporation and may be well-suited for companies with a single owner. [5]
Cooperativa ≈ cooperative: The name of the entity should include the expression "Cooperativa" or "União de Cooperativas" or "Federação de Cooperativas" or "Confederação de Cooperativas" [19] CRL (Cooperativa de Responsabilidade Limitada): limited liability cooperative; S.A. (Sociedade Anónima): ≈ plc (UK), and these are further ...
A corporate entity is not excluded from this guideline if it is not-for-profit, state-owned, or a public–private partnership. The guideline, however, does not apply to a band, published work title, etc., that is named as if a corporation but is not one (e.g. Public Image Ltd , Scandal Incorporated , Murder, Inc. ).
[1] [2] A shareholder in a corporation or limited liability company is not personally liable for any of the debts of the company, other than for the amount already invested in the company and for any unpaid amount on the shares in the company, if any—except under special and rare circumstances that permit "piercing the corporate veil."
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An entity, which is eligible to make an election, is referred to as an eligible entity. Generally, a corporation organized under U.S. federal or state statute (and referred to as a corporation, body corporate or body politic by that statute) is not an eligible entity. However, the following types of business entity are treated as eligible ...
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