Common Contracts
1 similar Business Structure Overview contracts
ContractBusiness Structure Overview • September 16th, 2020
Sole Proprietor General Partnership Limited Liability Company Business Corporation Nonprofit Corporation Registration No, except for Assumed Business Name No, except for Assumed Business Name Yes, File Articles of Organization & Annual Reports Yes, File Articles of Incorporation & Annual Reports Yes, File Articles of Incorporation & Annual Reports Governing Document Business Plan Recommended Partnership Agreement Operating Agreement Bylaws Bylaws Ownership 1 Owner 2+ Partners (Owners) 1+ Members (Owners) 1+ Shareholders (Owners) No Owners, Assets must be given to another nonprofit upon dissolution Liability Unlimited personal liability for debts of the business and yourself Unlimited personal liability for debts of the business including your partners' actions Members (owners) have limited liability for debts of the LLC Shareholder liability limited to loss of their paid-in investment Operators are not personally liable for debts of the business Management Control O
