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The legal form is fundamentally irrelevant, what matters is the precise definition of the rights and obligations of each party

The use of an LLP or LLC as a legal form allows those financiers "outside the box" - should they wish, and to the extent they desire to - to come within the LLP/LLC legal protocol/framework which defines "the rights and obligations of each party" and thereby to share risks and rewards as they may consensually agree.

If all you are doing is borrowing then the legal form of the borrower is irrelevant, I agree. But I am observing new alternatives to borrowing - Income Trusts being one, and "Capital Partnerships" being another .

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sat Jan 19th, 2008 at 12:42:01 PM EST
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