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FIN 419 Week 1 – Limited Liability Corporation and Partnership Paper

The Role of Limited Liability Companies

The complex business environment in the United States provides a wide range of legal structures to form a business.One of the most important considerations for small businesses is the protection of the owner’s assets from liability. The limited liability company LLC and limited liability partnership LP offer a simple solution to this problem. The following essay will compare and contrast the differences between these legal entities and offer an opinion for which structure is best when launching a business.