Examlex
The governor's role as intergovernmental coordinator is becoming less important with each passing year, a reflection of the diminishing power of the states in American federalism.
Member-Managed
Refers to a type of management structure in an LLC where all members participate in the decision-making processes.
Limited Liability Company
An enterprise configuration that amalgamates the individual taxation approach of sole proprietorships or partnerships with the capped liability advantages of a corporation.
Corporation
A legal entity that is separate and distinct from its owners, offering them limited liability and the ability to raise funds by selling shares.
Net Income
The profit remaining after all costs, expenses, and taxes have been subtracted from total revenue.
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