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Many companies are operated via a separate entity such as an organization or a partnership . Most legal jurisdictions allow folks to prepare such an entity by submitting sure charter paperwork with the related Secretary of State or equal and complying with certain other ongoing obligations. The relationships and legal rights of shareholders, limited partners, or members are governed partly by the charter documents and partly by the regulation of the jurisdiction the place the entity is organized. Generally speaking, shareholders in an organization, restricted partners in a limited partnership, and members in a restricted liability firm are shielded from … Read more