University of Maryland Extension

business entity

Family Farms Should Consider a Family Business Governance Plan

Photo by Edwin Remsberg This post is not legal advice or advice on how to deal with family members, in-laws, or other relatives I want a show of hands: How many of you have a family business governance model for your family farm? For those of you who raised your hand, you can stop reading now, but...

Partnerships Need a Plan for Winding Down Affairs

Photo by Edwin Remsberg This post is not legal advice Earlier, I posted on family limited partnerships , I'm continuing the theme today with what happens when a general partner passes away. For example, father and son start a general partnership to run the farm. This partnership will continue till...

A Look at Business Organization Structures: Sole Proprietorship

Photo by Edwin Remsberg
This post should not be relied upon as legal advice Just the other day, I posted on the use of business organization structures by Maryland producers and the fact that the vast majority has not adopted any form of business structure to help limit their liability (see previous post ). Today as...

Let’s Partner Up: General Partnership Overview

Photo by Edwin Remsberg
This post should not be relied upon as legal advice Today we continue our series on business organizations and look at partnerships. A partnership is a separate legal entity created by two or more individuals (“partners”) who each contribute capital, equipment, and skills and share in profits and...

A Closer Look At The Corporation Business Structure

Photo by Edwin Remsberg
This post should not be relied upon as legal advice In continuing our overview of business organization structures, I will be illustrating the corporation structure with you today. A corporation is a legal entity separate and distinct from its owners. A corporation is owned by its shareholders who...
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