• Formation & Structure of Corporations, LLCs & Partnerships
    Formation of a business entity other than a person doing business as some company name falls into three (3) categories, i.e., corporations, limited liability companies and partnerships.

    Corporations are an entity recognized by the State of Tennessee and all other states that can act as a person in and of itself by and through its officers and pays taxes and carries on a business in its own name. It has stockholders, a board of directors and can grow to any size.

    A limited liability company (LLC) is a corporation which functions much like a partnership but affords limited liability to its owners from third parties with which the LLC may have dealt. This is probably the most popular form of corporate entity at this time.

    Many people are in Partnerships which are unwritten. Never having been reduced to writing, they invariably lead to a problem and the division of losses as well as profits need to be addressed in any partnership agreement. Partnerships have some positive attributes, but likewise have many problems associated with that form of entity.

    Our firm can assist you in determining which form or entity you should take for your business.

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