Law Library Articles

Top 10 Corporation Articles in the LegalMatch Law Library

In America, thousands of new businesses are started each month. When starting a business, you may consider creating a corporation. These articles will help you decide whether to form a corporation, what kind of corporation, and what kind of upkeep is associated with a corporation.

1. Limited Liability Company (LLC) Lawyers

A Limited Liability Company (LLC) is a popular business structure. It protects the owner’s personal assets from business debts. Unlike a corporation, an LLC’s profits are only taxed once at the individual member level.

2. Partnership Lawyers

A partnership is a business co-owned by a group of individuals. In a general partnership, all partners are responsible for the business’s debts. A limited liability partnership (LLP) offers some protection from the debts of other partners. Read this article to learn more about your rights with regard to partnerships.

3. Nonprofit Organization Lawyers

A non-profit organization is a business that operates for a charitable or social cause. These organizations are typically run by a board of directors. Like other businesses, non-profits can be sued for various reasons, such as employment disputes.

4. How to Remove a Corporate Officer

Removing a corporate officer requires a valid reason, such as misconduct or a breach of duty. The process usually involves a vote by the board of directors. The corporation’s bylaws will outline the specific steps for removal.

5. Ownership and Transfer of LLC Property

A Limited Liability Company (LLC) can own and transfer property in its own name. The property legally belongs to the LLC, not its individual members. A designated member or manager must be given the authority to sign property deeds.

6. Small Business Start-Up

Starting a small business involves several key steps. You must research your market and obtain the necessary licenses and permits. You also need to choose the right business structure and develop a solid marketing plan.

7. How to Form an LLP in Tennessee

To form a Limited Liability Partnership (LLP) in Tennessee, you must register with the Secretary of State. The LLP’s name must include an approved ending like “LLP” or “L.L.P.” You will also need to appoint a registered agent to receive legal documents. Read on to learn more about the specific LLP laws in Tennessee.

8. How to Form a LLP in Arkansas

Forming a Limited Liability Partnership (LLP) in Arkansas requires filing a Statement of Qualification. You must also choose a unique name for your business. An LLP in Arkansas provides partners with some protection from personal liability.

9. Dissolving a Limited Liability Company (LLC)

Dissolving an LLC involves more than just ceasing operations. You must file formal dissolution paperwork with the state. It is also necessary to notify creditors and properly distribute any remaining assets.

10. Liability of a Corporation’s Individual Members

A corporation is a separate legal entity from its owners. This usually protects members from personal liability for business debts. However, a court can “pierce the corporate veil” and hold owners personally responsible in certain situations.