Nellie Akalp is a passionate entrepreneur, business expert, professional speaker, author, and mother of four. She is the Founder and CEO of CorpNet.com
, a trusted resource and service provider for business incorporation, LLC filings, and corporate compliance services in all 50 states.
Good information, Thank you just spent yesterday researching very same topic. This is great for a comparison.
Hi, can you provide some information regarding what is the pros and cons between LLC and LLP.?? Can please provide example as well? Thanks
LLCs are usually preferred by small businesses with just 1 or a few partners. An LLP is geared more towards professional businesses. An LLC can have just one member (or more), however an LLP requires more than 1 partner. For information, please reference: http://blog.corpnet.com/choosing-partnership-business/
Thank you Nellie for simplifying the differences in what initially seemed so complicated. Appreciated your examples too! You saved me a lot of time <3
Glad to hear it, Maureen! If you have any additional questions feel free to call my office for a free business consultation! Katie Hendrix is a fantastic help! 888.449.2638 x110
Very informative and helpful. I use to know the differences many years ago … your article is a great recap and refresher for me …. It helped greatly in assessing the set up of my new entity and preparing me for discussion with my legal team.