Inc vs. LLC
Incs. is short for incorporated, and LLC is short for Limited Liability Company. For Inc., where the owner elected to be an S corporation, the profit and loss are passed to its shareholders, whereas income and loss in an LLC flow through to the members.
Compare LLC and Inc.
An Inc. is short for incorporated and an LLC stands for a limited liability company. Both protect company owners from personal liability for business obligations.
Small Business Owners Making More Than $250,000
The small business owners that make $250,000 a year or more tend to be manufacturing executives and those who run holding companies.
Can Two Businesses Have the Same Name?
It depends. If the business name is a registered service mark or trademark, another business cannot have the same name because it violates trademark law. You must perform a three-part test if the business name is not a registered service mark or trademark.
Material Breach of Contract
A material breach of contract occurs when a party fail to perform a contract's terms making the primary purpose of the contract not met, the breach is considered material.
What Type of Business Is a Partnership?
A partnership is the simplest business structure where two or more people are owners of a business. The types of business partnerships include general partnership, limited partnership, and limited liability partnership.
What Is Company Culture?
A company culture is how things get done in the workplace. Company culture can more be described as core values or operating principles used to set the tone for the company's overall operations and success.
What is a sole proprietorship?
A sole proprietor is someone who owns an unincorporated business by himself or herself. A sole proprietorship is a business that can be owned and controlled by an individual.
Is it legal to sell homemade food in California?
Yes, you can sell food from home so long as you have California-required health and food handling permits and business licenses. You must get a permit to sell food from home from the county health department in California.
How to Incorporate a Small Business in California?
To incorporate a small business in California, file an Articles of Incorporation with the California Secretary of State's office. After you file the Article of Incorporation, create corporate bylaws, and elect your initial director(s).