Download A Beautiful Constraint: How To Transform Your Limitations by Adam Morgan PDF

By Adam Morgan

This can be a useful guide approximately daily inventiveness, designed for the limited instances during which we are living. Underpinned through the most recent study from social technology, the authors interviewed contributors and groups in disciplines as diversified as advertising and marketing, provide chain, race automobile engineering, layout, agronomy and schooling, all of whom had grew to become obvious constraints into assets of threat and virtue.

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Extra info for A Beautiful Constraint: How To Transform Your Limitations Into Advantages, and Why It's Everyone's Business

Sample text

You can’t sell little pieces of yourself, now, can you? Chapter 2: Determining Whether an LLC Is Right for You Adding a partner: General partnerships When a sole proprietorship brings on its first partner, a general partnership is formed. Occasionally, partners will create a general partnership agreement, but often no other paperwork is completed and no filings need to be made. When it comes to lawsuits and creditors, a general partnership (“GP” for short) is even more dangerous than a sole proprietorship.

Choosing your registered agent Before you can file your articles of organization, you need to choose a registered agent (sometimes called a “resident agent,” “statutory agent,” or “RA”). A registered agent is a person or company that is always available during business hours, every single day, to accept any formal legal documents for your company in the unfortunate instance that you are sued. Most registered agents allow you to use their office address for all of your mail and other correspondence.

However, the members are required to pay taxes on these profits. When the company doesn’t distribute the profits to the members, but the members still have to pay taxes on the profit out of their own pockets, this is called phantom income. Chapter 2 Determining Whether an LLC Is Right for You In This Chapter ᮣ Assessing the benefits of LLCs ᮣ Looking at the drawbacks of LLCs ᮣ Comparing LLCs to other business entities F or small businesses that want complete limited-liability protection for all of the owners but don’t want to pay extra in taxes each year or deal with complex corporate issues, a limited liability company is the perfect entity.

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