Business Corporate and Commercial Law

1. What is the difference between an LLC and a corporation?

Both types of entities provide protection to the individual owners from liability to creditors. The LLC, however, allows the owners to select the tax treatment of a partnership, so that there is no tax at the company level, with profits and losses flowing through to the individual owners.

2. I’m a partner in business and one of my partners is threatening to dissolve the partnership and take over the business. What should I do?

You should seek immediate advice from an experienced Coover Law Firm attorney. Your lawyer will advise you on your rights and obligations as a partner. Your attorney will advise and assist you in keeping your business operating and resolving the dispute.

3. What is a sole proprietorship?

Sole Proprietorship is a business owned by one person.

4. What is a partnership?

A partnership is the legal relationship between two or more persons who carry on business together in order to make a profit

5. What is a corporation?

A corporation exists as its own legal being. The owners of a corporation are its shareholders.