Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,207,370 members, 7,998,754 topics. Date: Sunday, 10 November 2024 at 06:19 AM

Which do I go for? Business Name vs Limited Liability Company? - Investment - Nairaland

Nairaland Forum / Nairaland / General / Investment / Which do I go for? Business Name vs Limited Liability Company? (205 Views)

NNPC To Begin Operation As Limited Liability Company From July 1 / HOW TO REGISTER YOUR BUSINESS NAME REGISTRATIONS / Register Your Business Name And Limited Liability Company With CAC (2) (3) (4)

(1) (Reply)

Which do I go for? Business Name vs Limited Liability Company? by stephenlegal: 8:23am On Aug 06, 2020
Have you wondered the reason a company ought to be held liable for a deed yet the owner(s) are not directly held responsible?

For instance:
A logistics firm, CrossPath, rendered unsatisfactory services to Mr Sam and a distressed Mr Sam desired to sue CrossPath.

If CrossPath was registered as a Business Name, then the owners of CrossPath will be directly held responsible.

However, if it was registered as a Limited Liability Company (LLC), then the owners of CrossPath will not be held liable, the company solely will be held responsible.

Think on this:

If your business will engage in risky activities e.g logistics, trading of stocks, then do a LLC registration for your business, if not then a Business Name will suffice.

From Stephen Legal Blog, your guide in business and legal information.

(1) (Reply)

Investor Needed / How School Teacher &Event Planners in PH Make #3000 Daily As Retailer Of "Vokab" / We Sell Genuine And Affordable Land

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 5
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.