Could it be beneficial to structure organizations, in a way that would put societal type of needs, above those of pure self-interest?

 

 

John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

Kiritsis Law Group  

212 922 0005

 

Entity structure refers to the legal form that a business or organization takes. There are several different entity structures that a business can choose from, including sole proprietorship, partnership, corporation, and limited liability company (LLC).

 

A sole proprietorship is a business owned and operated by a single individual. This is the simplest and most common form of business structure, and it offers the owner complete control over the business. However, it also exposes the owner to personal liability for the business's debts and obligations.

 

A partnership is a business owned and operated by two or more individuals. Partnerships can be either general partnerships, in which all partners are jointly and severally liable for the business's debts and obligations, or limited partnerships, in which some partners have limited liability and others have unlimited liability.

 

A corporation is a business owned by shareholders and managed by a board of directors. Corporations offer limited liability protection to their shareholders, which means they are not personally liable for the business's debts and obligations. However, corporations are more complex and expensive to set up and operate than other entity structures.

 

An LLC is a business that combines elements of both a corporation and a partnership. LLCs offer limited liability protection to their members (similar to a corporation), but they are taxed as partnerships (unless they elect to be taxed as a corporation). LLCs are a popular choice for small businesses because they offer a balance of liability protection and tax benefits.

 

The entity structure that a business chooses will depend on various factors, including the size and nature of the business, the number of owners, and the owner's goals and objectives. It is important for business owners to carefully consider the pros and cons of each entity structure before deciding which one is right for their business.

 

In addition to choosing an entity structure, businesses also need to consider other legal issues, such as obtaining the necessary licenses and permits, complying with employment laws, and protecting their intellectual property. Working with a lawyer or other legal professional can help businesses navigate these issues and ensure they comply with all relevant laws and regulations.

 

 

KIRITSIS LAW GROUP

Phone: 212 922 0005

 

Manhattan Office (Main Office):                                                                                                                                                                           

633 Third Avenue

New York, NY 10017

Suite 1306

 

Brooklyn Office (By Appointment Only):

1023 74th Street

Brooklyn, NY 11228

1st Floor

 

New Jersey Office:

7309 Ventnor Avenue

Ventnor, NJ 08406

2nd Floor

 

ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.

 

We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The KIRITSIS LAW GROUPis a boutique Law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.

 

We offer flat fee prices for many of the practice areas provided listed throughout our website. For more information on a topic you may be interested in, or simply to find out how our Law Firm Group can help, you may click at any of our site's links.

 

We are available for existing and potentially new clients 7 days a week via online, phone, and/or in person. 

 

Phone: 212 922 0005

 

Intellectual Property Disclaimer(s):

Copyright 2023

The materials available through this website and any other websites owned by KIRITSIS LAW GROUP (individually and collectively, the "Website") are the property of KIRITSIS LAW GROUP and ITS entities, and are protected by copyright, trademark, and other intellectual property laws. You may not use, reproduce, download, store, post, broadcast, transmit, modify, sell, or make available to the public content from the Website without the prior written approval of KIRITSIS LAW GROUP. Beware that any unauthorized use of trademarks and copyrighted content for commercial purposes in violation of KIRITSIS LAW GROUP's intellectual property rights will be vigorously enforced. All other trademarks, service marks and trade names referenced in this site are the property of KIRITSIS LAW GROUP.

 

 

ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.

 

The views expressed by this author are not legally binding or reflective of the author, the author’s firm, the author’s employers, the author’s employees, or any individual and/or organization.