cryptohunter
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In the USA people starting a business can choose different types, each with its own rules. One choice is a sole proprietorship, where one person runs everything and is responsible for everything.
Partnerships happen when two or more people share the business. In general partnerships, everyone shares everything equally. Limited partnerships let people have different roles, with some having less responsibility.
Corporations are like their own thing with shareholders, directors, and officers. Shareholders have less risk, but it comes with more rules and requirements.
Limited Liability Companies (LLCs) mix parts of partnerships and corporations. It gives protection to members and is flexible in how it's managed. A lot of people like it because it's simple and flexible.
Partnerships happen when two or more people share the business. In general partnerships, everyone shares everything equally. Limited partnerships let people have different roles, with some having less responsibility.
Corporations are like their own thing with shareholders, directors, and officers. Shareholders have less risk, but it comes with more rules and requirements.
Limited Liability Companies (LLCs) mix parts of partnerships and corporations. It gives protection to members and is flexible in how it's managed. A lot of people like it because it's simple and flexible.