Definition of Business Entity:
A legal organization that possesses a separate existence from its owners. Some types of business entities include corporations and limited liability companies (LLCs), limited partnerships and limited liability partnerships (LLPs).
Today’s Question — Saturday, March 20
Must the board of directors meet and hold meetings?
The corporate protections afforded by operating your business through an LLC or corporation are typically recognized by a court if certain corporate formalities are honored, including recognizing basic corporate governance matters, such as holding regular board of directors meetings, not commingling corporate funds with those of individual stockholders or other businesses, and holding stockholder meetings.
