Forms of Business and Partnerships

Sole Partnership

A business owned and operated by one person, with no legal distinction between the business and the owner.

Partnerships

A legal form of business operation between two or more individuals who share management and profits.

Sole Member, LLC

A limited liability company with only one owner, providing liability protection and pass-through taxation.

Forms of Business

Different legal structures for conducting business, such as sole proprietorship, partnership, and corporation.

RUPA

Revised Uniform Partnership Act, a set of laws governing the formation and operation of partnerships.

Dissociation

The withdrawal of a partner from a partnership, leading to the dissolution or continuation of the partnership.