Frequently Asked Questions

•  A Limited Liability Company (LLC)
•  A Sole Proprietor using a DBA
•  A Corporation
•  An S-Corporation
•  A Partnership
•  A Professional Association
•  A Limited Liability Partnership
•  A Non-Profit Organization

Limited personal liability protection, often referred to as "the corporate veil," is a key distinction between an LLC and a sole proprietorship (DBA). While an LLC shields owners from personal accountability for business liabilities or debts, a sole proprietorship (DBA), also known as a Trade name, Fictitious name, or assumed name, does not offer the same protection.

LLCs and Corporations both provide personal liability protection, commonly known as the "corporate veil." However, the LLC is regarded as a less formal business structure and can be simpler to maintain due to fewer record-keeping obligations. Unlike a corporation, an LLC lacks the capability to issue shares of stock and become publicly traded.

You don't have to engage a lawyer to establish your business. Utilize a streamlined service such as Formed Smart Consulting at a fraction of the cost, saving you significant time, effort, and money. We consolidate various business products into a user-friendly platform, ensuring accurate and error-free document submission. While we don't provide legal counsel, we offer valuable insights into common startup queries and simplify the initial formation procedure.