A variety of different business structures exist to offer owners higher degrees of flexibility and organization within their company. Deciding on a business’s structure is one of the most important decisions a business owner makes, as it impacts everything from taxes to daily internal operations. Read below to learn about one of the most popular structures–a limited liability company, or LLC.
As a business lawyer, I receive this question from time to time:
“I started a small business and sold investments in it to my friends or family. Now some of them want their investment back, but we are using the money for the business, and we are still building it up. They say if they don’t get the money back they will sue. I am in charge of the company and I am the only one who can run it. What do I do?”