Examlex
What is the rule-of-thumb for evaluating businesses with few tangible assets?
Corporate Form
The organizational structure of businesses incorporated under laws that treat the business as a legal person separate from its owners.
Separate Legal Entity
A legal concept that separates the identity of a corporation or limited liability company from its shareholders or owners, allowing it to own property, sue or be sued, enter contracts, and conduct business in its own name.
Personal Liability
The legal responsibility of an individual to repay debt or fulfill obligations from personal assets.
Partnership Form
An official business configuration where management roles and profit disbursements are shared among a few individuals.
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