Tag Archives: #PartnershipProsAndCons

Q6.74 Business partnership vs LLC ?

Business partnership vs LLC

Business partnership vs LLC A business partnership and a limited liability company (LLC) are two distinct legal structures for businesses. Business partnership vs LLC: 1.Liability Protection: Partnership: In a partnership, partners have unlimited personal liability for the debts and obligations of the business. This means that if the partnership cannot meet its financial obligations, partners… Read More »

Business Partnership V/s Corporation

Business partnership vs corporation

Business Partnership V/s Corporation   A Business Partnership V/s Corporation are two different legal structures for businesses, each with its own characteristics and implications. Here are some key differences between a business partnership and a corporation:   Ownership and Structure: 1. Partnership: A partnership is formed when two or more individuals or entities come together… Read More »