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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 ]
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
Ministry of Development (MR) – Central Registration and Information on Business (CEIDG) [69] – company register for natural persons trading as sole traders or their civil law partnerships (searchable); such companies are prohibited from performing certain activities (e.g. operating a life insurance company), and proper agricultural activity ...
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Registration is normally mandated by the government of that jurisdiction. A company register serves a purpose of protection, accountability and control. In contrast many countries also operate a statistical business register which has a different purpose and plays a central part in a system of official economic statistics at a national ...
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