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Limited liability Limited liability is a feature inherent in corporations: stockholder’s responsibility for debts is restricted to the amount of their investment in the corporation.
Limited liability companies (LLC) A hybrid form of business organization with certain features like a corporation and others like a limited partnership is the limited liability Company...
Limited liability partnership (LLP) Most states allow professionals such as lawyers, doctors, and accountants to form a limited liability partnership or “LLP”. The LLP is designed to protect innocent partners...
Unlimited liability Each partner is personally and individually liable for all partnership liabilities. Creditor’s claims attach first to partnership assets. If these are insufficient...
Limited liability company (LLC) The limited liability company (LLC) is a form of business organization that combines the limited liability advantage of the corporation with the tax advantages of the partnership.
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