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With over 15 years in designing and implementing software as an engineer for both private and public companies, including several entreprenerial ventures of my own, I have vast amount of knowledge in the Business, Internet, and Intellectual Proper...
Practice areas & skills: Limited Liability Company (LLC), Divorce & Separation, Child Custody, DUI & DWI, Intellectual Property
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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.