Choice of Entity: Corporation vs. LLC vs. Partnership
One of the first major decisions a startup or emerging business will need to make is regarding choice of entity. Selecting the right corporate framework–corporation, LLC or partnership–is critical to the success of any businesses. How can you determine the best fit for your emerging company?
This course provides general guidance for non-lawyers dealing with the issues which arise in deciding what type of entity form should be used for a budding business. The instructor will introduce a framework to help you analyze the different attributes of business entities, including four key considerations:
The lifecycle of the entity: Is this a single purpose entity, or will it grow over time?
Realities of death and taxes: How to close a business and manage the associated tax implications
Administration: What level of administration is required for your business?
Liability: Does your new business require you to carry personal liability insurance?
Review and Test
Review Questions: Choice of Entity: Corporation vs. LLC vs. Partnership - A Critical Decision for Start-Ups and Emerging Companies
FINAL EXAM: Choice of Entity: Corporation vs. LLC vs. Partnership - A Critical Decision for Start-Ups and Emerging Companies