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Jeff Pham has devoted his career to counseling businesses and providing them with the legal expertise required to realize their goals. Mr. Pham began his career as corporate counsel to CoreLogic, Inc. (NYSE: CLGX), the world’s largest provider of...
Practice areas & skills: Limited Liability Company (LLC), Corporate & Incorporation, Business, Litigation
Mr. Morrison specializes in corporate, securities and commercial business transaction matters. He represents individuals, partnerships, small and mid-size businesses, and national companies from a variety of industries including manufacturing, rea...
Practice areas & skills: Limited Liability Company (LLC), Business, Mergers & Acquisitions, Partnership, Corporate & Incorporation
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Creating a limited liability company, or LLC, is one of several ways to structure a business. The other choices are general, limited, or limited liability partnerships. A shareholder in an LLC is not personally liable for any of the debts of the company, other than for the money they invested in that company. In a general partnership, all partners manage the business and are personally liable for its debts. In limited partnerships, partners' liability is limited and they have no voice in the decision-making. And in a limited liability partnership (LLP), all partners have some degree of limited liability. A lawyer with LLC experience can help you determine if forming an LLC is advantageous and appropriate for your business. If you decide to form an LLC, the attorney can draft the paperwork you need to formalize your choice, including provisions for management, ownership transfers, and profit and loss distributions.