Corporations sometimes have patents in case they invent an idea or item. The patent protects them for a duration of 14 years. In case the value of their cash and assets is less than what they owe their debtors they can be filed for bankruptcy. In a case where an interested party or partner feels his or her rights have been violated the corporation or LLC can be sued. A lien is a right to keep a property of a person until the debts are fully paid and the corporations are permitted to do that by the law. LLC and corporations do own real estates with them. If they lease a building the ownership still remains with the corporation up until the end of the leasing contract.
What state, local and federal permits are required for a business?
During the starting of a business, some permits are required to be satisfied from the state, federal and local entities of the country. These permits include. Basic business operation license which helps one to fully engage in business. Fictitious business name permit, this gives one identity. Zoning and land use permits that shows the location that one is at or allocated. Other which include Health department permits, Special state-issued occupational/professional licenses, Fire department permits, Special state-issued business license or permits, Sales tax license,
