A limited liability company, or LLC, is a business entity that provides limited liability protection to its owners. LLCs are popular among small businesses because they offer the flexibility of a sole proprietorship or partnership with the added benefit of limited personal liability for the owners. In other words, LLC owners are not personally responsible …
A limited partnership is a type of business entity in which one or more partners (the general partners) manage the company and assume liability for its debts, while another group of partners (the limited partners) invests capital and shares in the profits and losses. The limited partners have a limited liability, meaning that they are …
Liquidation occurs when a company is unable to pay its debts and is forced to sell off its assets in order to repay creditors. In some cases, the company may be able to reorganize its debt and avoid liquidation, but in others, it may be necessary to dissolve the company entirely. Liquidation can be a …
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