Trusted Legal Guidance for Owners of Partnerships and LLCs
Interested in forming a partnership or a limited liability company (LLC)? Need ongoing assistance or one-time help with the organization and maintenance of your partnership or LLC for your expanding business? Attorney Amy Mello, founder of the Law Office of Amy S. Mello, LLC, has many years of experience helping entrepreneurs like you in Massachusetts and Rhode Island.
A Basic Overview of These Two Business Organizations
The legal definition of a partnership as stated in the Revised Uniform Partnership Act § 101 , is “an association of two or more persons to carry on as co-owners of a business for profit.” States have statutes that govern business entities such as partnerships. There are many default statutory rules that will apply to your partnership unless you and your business partners have a written partnership agreement that modifies or rejects them. An attorney can help you and your business partners draft that partnership agreement. Will yours be a general partnership, a limited partnership (LP) or a limited liability partnership (LLP)?
An LLC is a limited liability company, which is a specific form of a private limited company identified in the United States. This type of business structure combines the advantages associated with a partnership or sole proprietorship, specifically pass-through taxation, with the limited liability benefits of a corporation.
No matter which business structure you choose (or have chosen), it is important to understand the advantages and potential pitfalls associated with it. Attorney Mello will take the time to explain this information, answer your questions and help you safeguard the business you have worked so hard to build.
Skilled Legal Help is Available – Contact the Firm Today
The Law Office of Amy S. Mello, LLC, serves clients in Massachusetts and Rhode Island. If you are seeking experienced business law advice and guidance, contact the firm in Mattapoisett, Massachusetts, today. Just call 508-276-2578 or submit an online contact form.