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Which Company Structure is Right for You?
Which company structure is right for you? - For brand new entrepreneurs who are looking to start a business, the question of company structure will come up at some point. The names are well known – sole proprietorship, partnership, limited liability company, corporation – but the differences between these four types are not always common knowledge. In this article, you'll read about the four types of structures. You'll learn briefly what characterizes each one, how income flows through to the owners, and what kind of legal implications there are. This article can be a starting point for you as you decide what structure your business will take.

Other liability risks Related Articles

How to Deal with Difficult Business Partners
All successful companies have one thing in common. On average, they carry more assets than they do liabilities. These companies are also quick to take note when something that was once an asset now has become a liability. They either try to make this new liability an asset again or they swiftly remove it from the company. This process may sound easy enough unless the liability you are thinking of is your relationship with your business partner.
Sales Dilemma: Risks Aren't Scary Once You Take Them
Avoid the sales dilemma and don't shy away from taking risks. See this example of what happens when you meet the big risks head-on.
How directors can prevent themselves being liable for their company’s debts
The reason most start up business owners decide to form a company is to protect themselves in the event that their business goes belly up. The so called “limited liability” protection offered by the company structure may psychologically persuade us to take more business risks than if we were trading on our own account. However, in times of hardship, limited liability may not be all its cracked up to be and business owners could end up being personally liable for their company’s debts if they fail out to carry their duties as a director properly.
Beware Time Liabilities
Are you surrounded by Time Liabilities? I define a Time Liability as: a) anything that consumes time unnecessarily or b) anything that causes you to spend time in activities that are less profitable than your most profitable activity. If your filing system causes you to spend extra time doing $9 per hour clerical work, trying to find that important document you misplaced, then you have a Time Liability. If your workspace is so uncomfortable that you have to spend time at a chiropractor every month to correct your spine alignment problems, you definitely have a Time Liability!
Reserves and Provisions
Every prudently and systematically managed business concern makes some provision out of current profits for meeting an anticipated liability, redeeming a liability, replacing an asset or for some other important business purpose.
6 Largest Products Liability Insurance Suits
Products Liability Claims Manufacturing, distributing, marketing and reselling products can often seem like a harmless venture until there is a Product Liability Suit.

General Contractors Liability Insurance, Certificates of Insurance, the Misnomers
General Contractors Liability Insurance, Additional Insureds, Certificates of Insurance, the Misnomers. Regarding General Contractors Liability Insurance and General Liability Insurance Certificates, there is a grand misnomer running rampant through the construction industry in NY, NJ and MA. I only speak about these states because I am familiar with their laws as they apply to the insurance, construction industry and the labor law. Please check your federal (OSHA), state, city and local government for laws as they apply to the construction industry and the labor law.

Applications Of Genetic Testing
Genetic Testing seeks to analyze and evaluate the DNA of an individual for the purpose of determining the presence of a gene that is responsible for or has the potential of causing an illness. Should there be any indication of such gene, it is also the responsibility of the medical professional performing the Genet test to appraise the risks involved in developing such disease, risks of passing such disease on to the next generation, and the risks of recurrence.
Determining the Business Entity Best for Your New Business
One of the most important matters that a person needs to focus on in the early stages of starting a business is determining the type of business entity to operate the business. You need to address this issue with the advice of an experienced business attorney in coordination with a certified public accountant. Most individuals operate his or her business under one of the following entities: 1. Sole Proprietorship; 1. General Partnership; 2. Limited Partnership; 3. Joint Venture; 4. "C" Corporation; 5. "S" Corporation; or 6. Limited Liability Company. While most new businesses are either an S corporation or a limited liability company, you should analyze each type of business entity to determine which is best for your business from a liability, tax, investment, legal, formation, operati
Insurance Defense Costs
Does Your Business Insurance Policy Cover Defense Costs Within the Insurance Limit or Defense Costs Outside of the Insurance Limit? Did you know that a liability policy, which is part of any typical business insurance policy or commercial insurance policy coverage, has two distinct obligations? A liability insurance policy, if it is a general liability, product liability or professional liability insurance policy is designed to protect you against your legal obligation to pay others because you have hurt them and/or have damaged their property. A policy also defends you against claims or lawsuits. In other words, besides paying for claims or suits, a liability policy also pays for their related legal costs and court fees.
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