Examlex
A 1 kW load that operates for 1 hour consumes the same amount of energy as a 100 W load that operates for 10 hours.
Limited Liability Company
A Limited Liability Company (LLC) merges the partnership or sole proprietorship's benefit of pass-through taxation with a corporation's feature of limited liability.
Business Form
The legal structure or organization of a business, such as sole proprietorship, partnership, corporation, or limited liability company (LLC).
S Corporation
A designation for a corporation that meets specific Internal Revenue Service criteria, allowing it to be taxed as a pass-through entity, thereby avoiding the double taxation typically applied to corporations.
Purported Partnership
The appearance of partnership when there is no partnership; it arises when a person misleads a second person into believing that the first person is a partner of a third person; a theory that allows the second person to recover from the first person all reasonable damages the second person has suffered due to his reliance on the appearance of partnership.
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