“You are about to learn powerful legal strategies used by the rich for generations to protect their assets and operate their businesses.” Now in its fourth edition, How to Use Limited Liability Companies & Limited Partnerships: Getting the Most Out of Your Legal Structure is the perfect tool to explain how and when to use Limited Partnerships (LPs) and Limited Liability Companies (LLCs)—“two of the most popular and powerful business entities available today.”
Over the course of twenty-one chapters, Sutton takes readers through the pros and cons of legal structures, weighing the differences between LPs, LLCs, General Partnerships, Corporations, and Sole Proprietorships. The bestselling author of business-related books, Sutton begins with a 15-point checklist as a guide to determine the best entity for seasoned and upcoming business owners. Following a step-by-step approach as he has done with his previous nine books, Sutton wants to make sure readers get it right before moving on to deeper issues by dedicating the first four chapters ALONE to entity selection.
Plenty of charts, case studies, a bit of history here and there, and Q & A sections aptly grace page after page of user-friendly information that covers topics such as capital contributions, securities laws, asset protection, and real estate. Sutton gets into the nitty-gritty of LLCs/LPs, such as estate planning, joint ventures, and intellectual property, just to name a few. He even dedicates a chapter to the importance of following formalities, which includes a flurry of legal documents that business owners going the route of LLCs/LPs should not take lightly.
As with all his books, Sutton always offers DIY tips to help business owners tailor their costs effectively and efficiently. This latest edition is nothing less than indispensable--a quintessential read for serious small-business owners. Anita Lock, Book Reviewer