Intellectual Property Basics

These comparisons to board games might help you understand patents, trademarks and copyright – the main forms of intellectual property. Imagine a game rule that says, you can make up a new rule. If the banker allows the rule, you get exclusive use it for 20...

What is a Limited Liability Corporation?

In US law, corporations are organizations authorized to act as a legal entity. US law also recognizes another legal status for a company, called a ‘limited liability corporation’, or LLC for short. LLCs are not separate legal entities like regular...

What is an S Corporation?

In US law, corporations are organizations authorized to act as a legal entity. US and state tax laws allow a special ‘S Corporation’ tax status that changes how corporate taxes are handled. The government taxes regular ‘C’ corporations directly...

Landlord Rights & Responsibilities

A landlord owns property that is rented or leased to someone else – the ‘tenant’ or ‘lessee.’ Both responsibilities and rights for landlords are defined by law – usually state and local codes in the US. Responsibilities for...