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atluriram
atluriram, Research Analyst
Category: General
Satisfied Customers: 533
Experience:  MASTER OF COMMERCE, BACHELOR OF LAWS, P.G. DIPLOMA IN PERSONNEL MANAGEMENT AND INDUSTRAL COUNSELING
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Who owns LLC

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Terminology is very important in business law. For example, sole proprietors owns sole proprietorships, partners own partnerships, but who owns LLC's?

atluriram :

Sir/madam

atluriram :

I herewith submit the answer

atluriram :

with regards

atluriram :

atluri ramesh

atluriram :

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Customer :

Where is your response?

atluriram :

Yes it correct to use the approximate terminology is to be used in Business law. The business organisations can be formed by various methods like proprietor, partnership, LLC, S corporation, L Corporation, etc. The liability is different in each form of organisation. In the case of Proprietorship, the liability will be on the owner. In the case of partnership the liability shared to partners. But in the case of LLC, the liability is limited to the investors. Hence it is limited liability to the owners in LLC, but unlimited liability in case of proprietors and partners

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Customer :

Thank you for your quick response.

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sir/madam

Sure, you are welcome and thanks for the appreciation

with regards
atluri ramesh

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