Although a limited liability company may be the best organizational form for most businesses, a significant number of firms may be better off as a corporation or some other form of organization (See page 759 ) a) The first group will outline several reasons why a firm might be better off as a corpo...

a Forms of business entities such as corporations have long histories the law is generally predictab ...

Although a limited liability company may be the best organizational form for most businesses, a significant number

Question:

Although a limited liability company may be the best organizational form for most businesses, a significant number of firms may be better off as a or some other form of organization. (See page 759.)
a) The first group will outline several reasons why a firm might be better off as a than as an LLC.
b) The second group will discuss the differences between corporations and LLCs in terms of their management structure.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...