Before a small business opens its doors, many business owners face an important decision: Will they structure their business as a limited liability corporation (LLC) or a limited liability partnership ...

An LLP (limited liability partnership) is essentially a general partnership, but it offers limited liability for one or multiple partners. About 40 US states allow the formation of LLPs, and the laws ...

LLC managers owe fiduciary duties both to the LLC and to the LLC’s members, similar to the duties owed by a partner to other partners in a partnership. (Corp Code §17704.09.) These include the duty of ...

What Is a Limited Liability Partnership (LLP)? A limited liability partnership (LLP) is a flexible legal and tax entity where every partner has a limited personal liability for the debts or claims of ...

A close friend and myself want to open an IT consulting practice providing IT support, systems administration services, security, and other services to small businesses. Initially I thought an LLP ...