Review: “Nicholas G. Dramesi handled a collection matter for me. I was sued in Court by a third-party but I did not owe the debt. I gave him the complaint and my documents and Mr. Dramesi handled everything! The matter settled ...
Practice areas & skills: Limited Liability Company (LLC), Wills & Living Wills, Speeding & Traffic Ticket, Divorce & Separation, Debt Collection
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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.