Business Organizations

The law of business organizations deals with the different ways a business can be formed under state laws. There are different kinds of organizations a business can form, each with different consequences for taxation and liability purposes. Types of organizations include C corporations, S corporations, sole proprietorships, partnerships, limited liability companies (LLC), and professional limited liability companies (PLLC). The law of business organizations primarily involves helping businesses set up certain business structures based on their goals and needs, as well as advising businesses how their specific business organization affects them in certain situations. What follows is a list of legal terms commonly-associated with business organization law, as well as their dictionary definitions.