While inexpensive to set up, a general partnership, potentially saddles the partners with big personal liability. As your business grows, consider a business structure that limits liability for owners, such as a limited partnership, limited liability company or corporation. Pros and cons of a general partnership Here are some of the pros and cons to […]
As a small business owner, you face the risk of a lawsuit every day. It can cost money, time, your reputation and cause stress. Lawsuits can also put some companies out of business. It may not be possible to avoid every legal claim against your business, but it’s important to limit your risk of a […]
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Operating agreements and articles of incorporation work hand in hand to outline your business structure and define how your company will legally operate. An operating agreement outlines the relationship between business owners, and articles of incorporation outline a business’s relationship with the state. All limited liability companies (LLCs) can benefit from having an operating […]