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If you have been thinking about different business structures and how they all compare, then you are not alone. Anyone in the business industry, whether they are financiers or merchants, has spent years trying to figure out ways to minimize or eliminate their losses and liabilities. Many now believe that to form a limited liability company is perhaps the best vehicle to help them achieve their goal. They may well be right, as it is not just a new idea. Many have already tried it and they sing its praises.

You may think that with all of the advantages an LLC business offers it must be a fairly difficult and expensive endeavor. However, you would be wrong, as most experts say that with all of the LLC information available, the process is much easier and less expensive than forming a corporation and it just may be the best decision you have ever made.

One of the first steps to be completed is to name your company; be sure to check with your state to see if your choice complies with your particular state's LLC rules. Some of the more common rules are obvious, such as making sure there is not another LLC on file with the same name. Of course, since you are going to form a limited liability company, the name must end with an LLC designator such as «Limited Liability Company» or even «Limited Company» or an appropriate abbreviation, such as «LLC» or «Ltd. Liability Co.» Most states have certain words that are prohibited, such as Bank, Insurance, City, etc.

Of course, as with everything else, there are some disadvantages as well. Corporations can be around forever, whereas an LLC business is dissolved when a member dies or undergoes bankruptcy. A sole proprietorship or partnership is a little less complex and includes less paperwork than a LLC, yet that certainly does not mean that the paperwork is not worth the effort.

When you form a limited liability company, there are steps that must be followed. While some are specific to certain states there are others that are common in all states. Typically, these would be to file the Articles of Organization with the Secretary of State and should include the company name, plus remember that most times it needs to end with an LLC designator. You will need to state the nature of your business or purpose and you will need to list names and addresses of the organizers. However, normally, you only need to list one.

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