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Explain the important contingencies of power.
Limited Liability Company
A corporate entity framework that marries the limited liability protections of a corporation with the tax flow-through benefits of partnerships and sole proprietorships.
Membership
The state of being a member or part of a group, organization, or society, often with specific rights and responsibilities.
Dissociation
The process by which a member's involvement in an entity, such as a partnership or limited liability company, ends.
Duty of Care
A legal obligation to avoid actions or omissions that could foreseeably harm others.
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