Transportation Law

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The roles and various players in truck transportation. Shipper/Consignor–this is the party from whom the freight is being shipped. Freight may not always move from a shipper’s location. For example, an item of construction equipment owned by ABC Company may be located at a job site owned by a real estate development company and may Read More

Business Organization

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There are a number of forms of business structures that can be used to conduct business. Each type of business form has its advantages and disadvantages. Some provide great simplicity but with little asset protection. Others provide good asset protection but at the cost of greater complexity.

What are the Pros and Cons of a Sole Proprietorship?

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A sole proprietorship is the simplest form of business entity. It requires no formal organization papers or formalities for conducting the business. Essentially, the individual functions as a business and is liable for all of the debts and liabilities incurred. A sole proprietorship is generally considered an informal business organization. That is, it does not Read More

What Is a Partnership and When Is It a Good Idea?

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A partnership is simply a joint venture of two or more individuals conducting a business together for profit. Like the sole proprietorship, the partners are liable for the debts and liabilities of the business individually. Again, no formal organization is required, though a written partnership agreement is always recommended. This type of business entity is Read More

Limited Partnership: A Guide

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A limited partnership (LTD) is a hybrid of a corporation and a partnership. The general partners manage the business on a day-to-day basis and are personally liable for the debts and liabilities of the partnership. However, the limited partners do not participate in the management of the business and only their assets used for purchase Read More

Limited Liability Company: Who Is It For?

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A hybrid of partnerships and corporations, an LLC provides limited liability for all of its “members.” This is true even as management of the company may remain the same as a general or limited partnership. Its structure is flexible, allowing for a wide variety of situations, and formalities minimal, requiring little else than a filing of Articles of Organization Read More