Explain different corporate structures?

Question

Hi,

Can someone explain the different corporate structures to me?

I am mostly interested in online business (but I may start some offline businesses too), so what is best for me?

I am mostly looking into reducing my legal liability. Most importantly, I do not want to be held liable as a criminal. What corporate structure is best so I don't lose everything when I get sued?

I will be talking to a lawyer about this, but I just want a general idea before I go in to talk to him.

I'm thinking an LLC is best in my case? Someone else suggested an S-Corp, what's the difference?

Can someone explain all the different corporate structures?

Thanks.

Answer 1

Basically the different corporate structures are, LLC, LLP, C-corporation, S-corporation, Partnership, Sole Proprietorship.

I've attached links to wikipedia articles for each.