The best way to protect your business is to form an LLC or other entity. An LLC is a limited liability company (LLC), which means that the owners are not personally liable for the debts and obligations of their business. In fact, creditors cannot go after the personal assets of members who have been involved in a dispute over the LLC.
An LLC can be formed with or without partners. If you’re forming an LLC without partners, each member will be solely responsible for his or her own liability as a member of the LLC. If you’re forming an LLC with partners, then the members are jointly and severally liable for all debts and obligations of the business. In other words, each partner is responsible for the full amount of any liability incurred by the company.
Partners in an LLC are called “members.” The number of members can range from one to hundreds, depending on the type of business and state laws. In most states, an LLC must have at least two members. However, in some cases you can form a single-member LLC if your state allows it.
In some states, only one member is required to form an LLC. In other states, any number of members can be involved in an LLC. Each state has different rules regarding the formation and management of limited liability companies. Before forming an LLC in your state, make sure to check the laws governing this type of business entity.
How To Start An LLC in Oklahoma?
To form an Oklahoma LLC, you must register with the Oklahoma Secretary of State and pay a $100 filing fee. You will also need to file Articles of Organization with the Secretary of State’s office. The articles must be signed by all members or managers, depending on whether your LLC is member-managed or manager-managed. If you are forming a single-member LLC, only one person needs to sign the articles.