Quote from: T Hunt on November 05, 2022, 11:34:26 AMIve long said that the very notion of an LLC is socialistic and anti competition.

Capitalism is about risk reward. Well another word for risk is liability and LLCs are Limited Liability Corporations. So the point is, how can competition work when you limit the risk?

If you're going to run a business, you NEED to form a corporation!

Currently, there are about five million corporations in the USA.

Most of the major corporations are incorporated in Delaware,
even though most of them have no operations in Delaware.
That's because the laws of Delaware are designed to be favorable to major corporations.

The purpose of an LLC is to limit your liability to what you invested in your business;
to protect your personal assets.
This helps protect you against frivolous lawsuits.


About ten years ago, Ohio moved to be as business-friendly as possible.
They streamlined the process to form a corporation.
It's now almost as easy as buying a fishing license!
If the entire process takes more than one day,
you're the one dragging your feet!

Quote from: je_freedom on November 12, 2022, 05:56:13 PMIf you're going to run a business, you NEED to form a corporation!

Currently, there are about five million corporations in the USA.

Most of the major corporations are incorporated in Delaware,
even though most of them have no operations in Delaware.
That's because the laws of Delaware are designed to be favorable to major corporations.

The purpose of an LLC is to limit your liability to what you invested in your business;
to protect your personal assets.
This helps protect you against frivolous lawsuits.


About ten years ago, Ohio moved to be as business-friendly as possible.
They streamlined the process to form a corporation.
It's now almost as easy as buying a fishing license!
If the entire process takes more than one day,
you're the one dragging your feet!

This is the problem. For over 100 years, including the age of the big business barons of the 1800s, people in a sole or partnership would be personally responsible. I agree frivolous lawsuits should be gotten rid of through the law. But that liability, that risk, is a fundamental part of the competitive capitalist system. Without it corporations run amok, not fearing repercussions and develop crony capitalism.