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LLC’s, Corporations, And Other Business Structures - Part II: Written By New York Entertainment Attorney And LLC Counsel John J. Tormey III, Esq

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LLC’s, Corporations, And Other Business Structures - Part II: Written By New York Entertainment Attorney And LLC Counsel John J. Tormey III, Esq Powered By Docstoc
					
				
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Description: Part I of this article discussed the process of selecting a new name for a business, typically a limited liability company (LLC) or a corporation in this day and age. Many people choose to incorporate or form an LLC, so as to minimize their personal liability for the debts, liabilities, and obligations of their business. There is cost to forming an entity, but the cost is often worth it. What follows is a brief discussion of “personal liability”, and the types of entities that may be available. These types of issues regarding corporations and limited liability companies (LLC’s) are often brought to an entertainment attorney such as myself in the context of new entertainment venture start-up companies and otherwise, but are in fact universal concerns across manifold sectors and industries besides entertainment.