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Choosing Good Business Partners

I wrote a week or so ago about a few different types of legal business structures that you might consider for a small, home business and one of those was the partnership. Whether you are looking for a partner to share your entire business operations, or you are just in the market for an individual or individuals to partner with for a specific project, finding good business partners is not always easy. Not only do you have to decide what you are looking for in a business partner on a personal level, but you also need to keep in mind … Continue reading →

Understanding Legal Business Structure–Part Three–Limited Liability Company

A week or so ago, I started the series on understanding legal business structures for small, home-based businesses. We’ve talked about sole proprietorships and partnerships, but another business structure that some business owners consider is called a “Limited Liability Company” or LLC… This is a fairly new type of business structure that is becoming increasingly popular. One of the reasons for this popularity is that it can function sort of like a partnership, but it allows for limited liability in terms of debts and other “company” responsibilities. An LLC or L.L.C. is formed by state statute or law. The individuals … Continue reading →