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  2. Professional corporation - Wikipedia

    en.wikipedia.org/wiki/Professional_corporation

    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.

  3. Limited liability company - Wikipedia

    en.wikipedia.org/wiki/Limited_liability_company

    In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC). [4]

  4. List of legal entity types by country - Wikipedia

    en.wikipedia.org/wiki/List_of_legal_entity_types...

    LLC & Co. KG: the general partner is a US LLC; Note that when a KG's general partner is a limited company, the resulting form is legally considered as a different subtype of KG; Partnerschaftsgesellschaft (PartG): partnership company; only for professional services

  5. Limited liability - Wikipedia

    en.wikipedia.org/wiki/Limited_liability

    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.

  6. Limited liability partnership - Wikipedia

    en.wikipedia.org/wiki/Limited_liability_partnership

    Though not a corporate entity, it can sue and be sued, own property and act under the partnership's name. The partners, however, are jointly and severally liable for all the partnership's debts, except when only some partners' misconduct caused damages to another party — and then only if professional liability insurance is mandatory. Another ...

  7. Incorporation (business) - Wikipedia

    en.wikipedia.org/wiki/Incorporation_(business)

    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

  8. Limited liability limited partnership - Wikipedia

    en.wikipedia.org/wiki/Limited_liability_limited...

    The LLLP form of business entity is recognized under United States commercial law. An LLLP is a limited partnership, and it consists of one or more general partners who are liable for the obligations of the entity, as well as or more protected-liability limited partners. [1]

  9. Company - Wikipedia

    en.wikipedia.org/wiki/Company

    A modern corporate office building in Münster, North Rhine-Westphalia, Germany An office building of Nokia Corporation in Hervanta, Tampere, Finland. A company, abbreviated as co., is a legal entity representing an association of legal people, whether natural, juridical or a mixture of both, with a specific objective.