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The business trust made its debut in Massachusetts in 1827. As a result, a U.S. business trust today is often called a "Massachusetts trust" in legal circles. The U.S. Supreme Court defined the Massachusetts trust as a form of business organization, common in Massachusetts consisting essentially of an arrangement whereby property is conveyed to trustees: in accordance with terms of the trust.
An anonymous limited liability company is an LLC for which ownership information is not made publicly available by the state. [45] [46] Anonymity is possible in states that do not require the public disclosure of legal ownership of an LLC, or where an LLC's identified legal owners are another anonymous company. [46]
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 ...
Massachusetts is the sixth-smallest state by land area. With a 2024 U.S. Census Bureau-estimated population of 7,136,171, its highest estimated count ever, Massachusetts is the most populous state in New England, the 16th-most-populous in the United States, and the third-most densely populated U.S. state, after New Jersey and Rhode Island.
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A low-profit limited liability company (L3C) is a legal form of business entity in the United States. [1] Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. [ 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