Legal structure: Difference between revisions
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The legal structure of the Emerald Forest needs still to be worked on. At this moment it is a Ltd. a limited company, also known as a limited liability company (LLC). This is a type of business ownership which determines many aspects of the way Emerald Forest is run. At this moment this is not yet very important, but still some more information. | The legal structure of the Emerald Forest needs still to be worked on. At this moment it is a Ltd. a limited company, also known as a limited liability company (LLC). This is a type of business ownership which determines many aspects of the way Emerald Forest is run. At this moment this is not yet very important, but still some more information. | ||
There are both advantages and disadvantages to making a company a limited company. | There are both advantages and disadvantages to making a company a limited company. | ||
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Basic situation is that the liability of the members is limited. Members of the company are not totally as a individual person responsible for the debts of the limited company. | Basic situation is that the liability of the members is limited. Members of the company are not totally as a individual person responsible for the debts of the limited company. | ||
In addition, members of a limited company must participate in the running of the company, or they are considered investors. | In addition, members of a limited company must participate in the running of the company, or they are considered investors. | ||
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<center><small>''Emerald Forest Hotel'' offering an <font color="green">'''emerald''' </font color="green">hotel experience! | |||
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Revision as of 14:55, 9 March 2015
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The legal structure of the Emerald Forest needs still to be worked on. At this moment it is a Ltd. a limited company, also known as a limited liability company (LLC). This is a type of business ownership which determines many aspects of the way Emerald Forest is run. At this moment this is not yet very important, but still some more information.
There are both advantages and disadvantages to making a company a limited company.
A limited company may be formed by a fairly simple process.
- First the owner(s)must file articles of organization with the Secretary of State (there are some rules on this).
- Secondly the required fees need to be paid to the state.
- Third there is legislation on the liability, need or pubication of results, paperworks etc.
Basic situation is that the liability of the members is limited. Members of the company are not totally as a individual person responsible for the debts of the limited company. In addition, members of a limited company must participate in the running of the company, or they are considered investors.
→ GO! Top of this page
