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Running a business name search helps ensure that your name is distinct from competitors, legally available, and doesn't infringe on any existing trademarks or intellectual properties.
For unregistered firms, income tax is levied on the firm's income and the partners are not liable to pay tax on the shares of profit received from the unregistered firm(s). Company; A company is a legal entity formed under the Companies Ordinance, 1984. It can have share capital or can be formed without share capital.
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
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]
As legal personality is a prerequisite to legal capacity (the ability of any legal person to amend – i.e. enter into, transfer, etc. – rights and obligations), it is a prerequisite for an international organization to be able to sign international treaties in its own name. The term "legal person" can be ambiguous because it is often used as ...
Using one or more fictitious business names does not create additional separate legal entities. [2] The distinction between a registered legal name and a fictitious business name, or trade name, is important because fictitious business names do not always identify the entity that is legally responsible.
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 term juridical person ("pessoa jurídica" in Portuguese) is used in legal science for designating an entity with rights and liabilities which also has legal personality. Its regulations are largely based on Brazil's Civil Code, where it is distinctly recognized and defined, among other normative documents.