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There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
Articles of association are critical documents to corporate operations, as they may regulate both internal and external affairs. [1] Articles of incorporation, also referred to as the certificate of incorporation or the corporate charter, is a document or charter that establishes the existence of a corporation in the United States and Canada.
LegalZoom.com, Inc. is an American online legal technology and services company launched in 2001. [3] It helps its customers create legal documents without necessarily having to hire a lawyer. Available documents include wills and living trusts, [4] business formation documents, [5] copyright registrations, and trademark applications.
A series LLC is a special form of a limited liability company that allows a single LLC to segregate its assets into separate series. For example, a series LLC that purchases separate pieces of real estate may put each in a separate series so if the lender forecloses on one piece of property, the others are not affected.
The articles of organization document typically includes the name of the LLC, the type of legal structure (e.g. limited liability company, professional limited liability company, series LLC), the registered agent, whether the LLC is managed by members or managers, the effective date, the duration (perpetual by default in most states), and the ...
Over the late 19th century, more and more states allowed free incorporation of businesses with a simple registration procedure; [8] Delaware enacted its General Corporation Law in 1899. Many corporations would be small and democratically organized, with one-person, one-vote, no matter what amount the investor had, and directors would be ...
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