Publicly traded company

Anyone here actually messed around with an IBM setup before? I'm trying to weigh the pros of going the partnership route versus setting up a standard LLC—basically looking at those business structures where it’s more about the people involved rather than just a pile of capital. From what I gather, you don't need to park a bunch of startup cash upfront with an IBM, but the kicker is that the partners are personally on the hook for everything they owe.

Also, does that give you a bit more breathing room with the company's cash? Like, can you pull money out of the business account more easily, similar to how a sole proprietorship works, just because the owners are already putting their own skin in the game?

Jamie Chase33 said:Anyone here actually messed around with an IBM setup before? I'm trying to weigh the pros of going the partnership route versus setting up a standard LLC—basically looking at those business structures where it’s more about the people involved rather than just a pile of capital. From what I gather, you don't need to park a bunch of startup cash upfront with an IBM, but the kicker is that the partners are personally on the hook for everything they owe.

Also, does that give you a bit more breathing room with the company's cash? Like, can you pull money out of the business account more easily, similar to how a sole proprietorship works, just because the owners are already putting their own skin in the game?

Take a look at Section 68 first. Let's nail down the basics...

http://www.law.cornell.edu/ucc/article...

Thanks for the link. I’ve been digging through the legal code, hitting up Google, and even scouring the NPR website, but I’m still scratching my head. Why on earth would anyone bother setting up a sole proprietorship—where you're basically putting your entire life savings on the line—when they could just pull the trigger on an LLC and enjoy that sweet limited liability?
Is it really just about skipping the initial capital requirements? Or am I missing some other perk somewhere?