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Essay Available:
Pages:
1 page/≈275 words
Sources:
1 Source
Level:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.32
Topic:

Business Law: advantages outweigh the disadvantages (Essay Sample)

Instructions:
What are the advantages and disadvantages of the recently increased ability to limit one's liability when operating a business? Do the advantages outweigh the disadvantages? Should certain kinds of businesses not be permitted to operate with limited liability? source..
Content:
Business Law
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Operating a limited liability business has become a common business undertaking recently. This is because it is a hybrid business structure that has been allowed to operate in most states and countries (Miller & Jentz, 2010). The design of limited liability companies presents the features of limited liability of a corporation while at the same time allowing tax efficiencies and flexibility of operations to resemble those of a partnership. The advantages of a limited liability business include the protection of the members or owners from being liable to the debts of the company, flexibility in the distribution of profits; less recordkeeping is required and avoiding double taxation in the form of corporate and individual taxes (Miller & Jentz, 2010). The disadvantages include limited life since they can be...
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