Limited Liability Partnerships Joint Venture S-corporation Limited Liability Company Non Profit Corporation Cooperative Franchises Brittany Bay Limited liability partnership (LLP): A limited liability partnership is a partner ship that provides the individual partner protection. Differing from the general partner ship the LLP gives protection, to all individuals, for personal liability. Brittany Bay Joint Venture: A joint venture is when two different partnerships, or companies, join together. Having a joint venture allows the two companies to come together, but without merging as one sole company. Brittany Bay S-corporation: S-corporations are corporations that meet the guidelines of the IRS. In other words any profits earned by the corporation are not taxed, at a corporate level, instead at the level of shareholders. A shareholder is any company or person that owns at least one share in a company. Brittany Bay Limited liability company (LLC): An LLC is when the shareholder has limited liability to what the companies actions are. An LLC is a hybrid of a corporation and partnership. Brittany Bay Non profit corporation: A non profit corporation is a corporation that is given tax free status. A non profit corporation does not profit from their business. Brittany Bay Cooperative: A cooperative is owned and managed by its members. The groups strive to have better-quality services to separate themselves from other businesses. Brittany Bay Franchises: A franchise is a method to starting a business, particularly for the businesses that desire to function above competitors. A big plus to having a franchise is with this you have access to other company’s brand name items. Brittany Bay .