Selection, Organization, and Maintenance of Business Entities
Many business owners choose to organize their business as a limited liability company (LLC). This can be helpful way of protecting the company’s assets from the personal liabilities of the company’s owners, as well as protecting the company’s owners from the business liabilities of the company.
Other business organization types that may also work to accomplish these goals include: corporations, partnerships, limited partnerships, and family limited partnerships. Each type of entity has its own advantages and disadvantages.
Maintenance of the appropriately selected business entity is critical to the entity’s success and effectiveness in protecting the business and its owners. A qualified Arizona business attorney can help you select, organize, and maintain the best entity for your business.