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GB518 Financial Accounting Principles and Analysis
$ 15.00

The owners of ICP chose to be organized as an LLC for a number of reasons; Limited personal liability is one of the more significant reasons for choosing this organization structure. An LLC is viewed as separate legal entity from its owners which allows partners to keep their personal assets separates from the business. In addition, an LLC’s members have the flexibility to decide how profits are distributed as outlined in the operating agreement.  This type of formation also allowed the greatest flexibility in management structure for the company which again will be outlined in the operating agreement. This flexibility was ideal for ICP since each company acquired in its portfolio is done in a different way and each members work on each project varies. 

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