Over the next few weeks, I'm going to take you through the four elements of a corporation.  You will choose two of these when setting up your LLC.  The first one we will cover is centralized management.

Centralized management is when the managers and officers of a business are not required to be owners or shareholders of the business.  A corporation has centralized management built in, but this does not need to be the case in an LLC.

Choosing centralized management can cause you to miss out on some potential asset protection benefits that come with requiring the manager to also be a member owner of the LLC.  For more details, check out my latest blog at http://www.llcwizard.com/centralized-management.

Lee Phillips

P.S. Our October Boot Camp is completely full.  For the first time in years, we will be holding our next Boot Camp in Orlando, Florida on February 22 and 23, 2016.  Register NOW to secure your place at http://www.legalees.com/learn/lee-phillips-boot-camp-training/!!