Skip to Main Content
Limited Liability Companies For Dummies, 3rd Edition
book

Limited Liability Companies For Dummies, 3rd Edition

by Jennifer Reuting
July 2019
Beginner content levelBeginner
368 pages
10h 26m
English
For Dummies
Content preview from Limited Liability Companies For Dummies, 3rd Edition

Chapter 10

Structuring Your Partnership

IN THIS CHAPTER

Bullet Boning up on LLC membership

Bullet Choosing the right partners

Bullet Issuing and vesting membership shares

Bullet Organizing a single-member LLC

Bullet Deciding on the rules for managers

In the eyes of the law, your LLC is a separate entity unto itself — almost like a separate person. But because it’s not alive and can’t think or act on its own, someone must do so on its behalf. In this case, the owners (that is to say, you) make sure the business stays alive. Until membership in your LLC has been issued — in other words, until the LLC is actually owned by someone — the business doesn’t really exist.

The LLC’s members are the company’s major decision makers. For the most part, the business’s success falls on their shoulders. Even if they don’t manage the day-to-day affairs, they still control who does. Who owns the company and how that ownership is structured are the most important decisions you can make when starting a new venture.

In this chapter, I ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Limited Liability Companies For Dummies, 4th Edition

Limited Liability Companies For Dummies, 4th Edition

Jennifer Reuting
Corporate Finance, 5th Edition

Corporate Finance, 5th Edition

Pierre Vernimmen, Pascal Quiry, Maurizio Dallocchio, Yann Le Fur, Antonio Salvi

Publisher Resources

ISBN: 9781119602187Purchase book