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Can I safely start a business with a money-bungling buddy?
My friend and I are thinking about going into business together. He's creative, he's hardworking -- and he's very irresponsible with money (he once bought a vintage video game machine instead of paying his rent). His credit isn't so hot, either. Are there ways I can protect myself?
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limited liability company (LLC)
A business ownership structure that offers its owners the advantage of limited liability (like corporations) and partnership-like taxation, in which profits are passed through to the owners and taxed on their personal income tax returns.
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