Enterprise News
Many companies are operated via a separate entity such as an organization or a partnership . Most authorized jurisdictions permit people to prepare such an entity by filing certain constitution documents with the related Secretary of State or equivalent and complying with sure other ongoing obligations. The relationships and authorized rights of shareholders, limited partners, or members are governed partly by the charter documents and partly by the legislation of the jurisdiction where the entity is organized. Generally talking, shareholders in a corporation, limited partners in a limited partnership, and members in a limited legal responsibility company are shielded from personal legal responsibility for the debts and obligations of the entity, which is legally handled as a separate "individual". This means that until there is misconduct, the proprietor's personal possessions are strongly protected in regulation if the enterprise does not succeed. Limited liability co...