LAW 335 EXAM 3 STUDY GUIDE 2022/2023 LATEST UPDATE RATED 100%

LAW 335 EXAM 3 STUDY GUIDE 2022/2023 LATEST UPDATE RATED 100% Exam 3 Business Organizations A) Types of Business Organizations 1) Corporations a) General For Profit Corporation b) Not-for-Profit Corporation c) Professional Corporation d) Closed Corporation e) S. Corporation (Tax Status) 2) LLC (Limited Liability Company) 3) Partnerships a) Limited Partnership (RULPA) i) Traditional Limited Partnership ii) Limited Liability Limited Partnership (LLP) iii) Family Limited Partnership (FLP) b) General Partnership i) Traditional - Uniform Partnership Act (UPA) - Revised Uniform Partnership Act (RUPA) ii) Limited Liability Partnership (LLP) B) Starting a New Business 1) Name Registration a) Name Registration (State) i) The name of your business must be filed with the Secretary of State’s Office b) Fictitious Name Filing i) When choosing a name of a business, the name can’t be deceptively similar to the name of a business already in existence ii) i.e. An already formed business is called “Sunrise Day Care” iii) You cannot start a business called “Sunset Day Care” c) Lanham Act i) Act related to Trademark/Trade name search attorney does with intellectual property ii) Is a piece of legislation that contains federal statutes of trademark law in the United States iii) Act prohibits a number of activities including trademark infringement, trademark dilution, & false advertising 2) Filing with Secretary of State’s Office (State) to Create Entity a) Corporation – You File – Articles of Incorporation b) LLC (Limited Liability Company) – You File – Articles of Organization c) Certificate of Limited Partnership: LLP (Limited Liability Partnership) & LLLP (Limited Liability Limited Partnership) – You File – Annual Registration 3) Licenses a) Local Business License i) For Small Business; required b) Licensing unique to some businesses