The primary difference between a South Dakota Limited Liability Company (LLC) and a South Dakota Partnership is that the LLC owners are not personally liable for the company's debts and liabilities. In other words, any creditors of the LLC usually cannot go after the owners' personal assets to pay off LLC debts. However, partners do not usually receive this limited liability protection.
What is the primary difference between a South Dakota Limited Liability Company (LLC) and a South Dakota Partnership?
About Swier Law Firm's Business & Corporate Practice Group
Swier Law Firm's Business & Corporate Practice Group handles the following types of cases:
- Cyber Law and Cyber Security
- Limited Liability Companies (LLCs)
- General Partnerships and Limited Liability Partnerships
- Joint Ventures and Strategic Alliances
- C Corporations and S Corporations
- Trademarks and Copyrights
- Real Estate
- Wind Energy Transactions
- Corporate Governance
- Corporate Dissolution
- Conducting Internal Investigations for Boards, Board Committees and General Counsel
- Preparing, Revising and Updating Governance and Compliance Materials, including Bylaws,
Committee Charters, and Compliance Policies.
To learn more about business and corporate legal issues in South Dakota, contact Swier Law Firm.
