What type of business entities are covered under small business law?

Small business law in California covers a range of business entities, such as sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. A sole proprietorship is a business owned and operated by one person. This type of business does not protect the owner from legal liability and the owner is personally responsible for all debts and obligations of the business. A partnership is a business owned and operated by two or more people. All partners are equally responsible for the debts and liabilities of the business. Limited liability companies (LLCs) are a popular type of business entity because it protects owners from personal liability for certain debts, obligations, and lawsuits. In a corporation, the owners do not have personal liability for the debts, obligations, and lawsuits of the business. The corporation is a separate legal entity from the owners and is taxed separately. All of these business entities are covered under small business law in California.

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What type of business entities are covered under small business law?

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