Create an account
a voluntary agreement under which two or more people act as co-owners of a business for profit
a partnership in which all partners can take an active role in managing the business and have unlimited liability for any claims against the firm
limited liability partnership (LLP)
form of a partnership in which all partners have the right to participate in management and have limited liability for company use
general corporation (C corporation)
most common type of corporation, stockholders take on limited liability
articles of incorporation
document filed with the state government to establish the existence of a new corporation
the basic rules governing how a corporation is organized and how it conducts its business
an organization that pools contributions from investors, clients, or depositors and uses these funds to buy stocks and other securities
statutory close corporation
limited number of owners that files special articles of incorporation allowing it to operate under simpler, less formal rules than a general corporation
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