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What happens if a defendant is served with a complaint and a summons, but the defendant chooses not to answer, hoping that the lawsuit will go away?
Partnership Income
The share of earnings distributed to the partners of a business, reflecting their individual stakes in the partnership’s profits.
Capital Balance
The amount of money that owners have invested in a company that has not been repaid or withdrawn.
Manager-Managed
A management structure in which a company is overseen by professional managers rather than its owners or members.
Member-Managed
Refers to a type of management structure in an LLC where all members participate in the decision-making processes.
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