Search results
Results from the WOW.Com Content Network
A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation . [ 1 ]
Limited liability separates control of a company from ownership and means that a passive shareholder in a corporation will not be personally liable either for contractually agreed obligations of the corporation, or for torts (involuntary harms) committed by the corporation against a third party (acts done by the controllers of the corporation).
Private Limited Company: Liability, limited by shares; Name, cannot be deceptively similar to another registered company; Management, at least 1 director; Shareholders, limited to 1–50 excluding persons who are employed by company, prohibition against any invitation to the public to subscribe for shares; Founders, 1–50; Nationality ...
Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company, or joint venture. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets ...
A corporate group is composed of companies. The general rule is that a company is a separate legal entity from its shareholders, that is the shareholder's liability for the subsidiary's debts is limited to the value of the shares, [4] and the shareholders cannot be required to perform the company's obligations.
For example, you might name your company “John Smith, LLC.” You can simply state the purpose of the LLC is “to hold investment assets,” if that’s what you’re trying to do. The entity ...
A company limited by shares: The most common form of the company used for business ventures. Specifically, a limited company is a "company in which the liability of each shareholder is limited to the amount individually invested" with corporations being "the most common example of a limited company". [10]
How much does an LLC cost. LLC costs can vary. Each state charges a fee to file an LLC’s articles of organization. While most states keep filing fees between $50 and $200, an LLC filing fee is ...