I would want to be a part of a limited liability partnership corporation, because mainly I can run it with one or more partners. The advantages of this corporation is having limited liability, owners have complete control, owners keep all profit, the profit can be split up other than 50/50, and taxes are uncomplicated. This type of partnership structure protects individual partners from personal liability for negligent acts of other partners or employees not under their direct control, states the SBA. In addition, individual partners are not personally responsible for company debts or other obligations. This is advantageous for an individual partner when potential lawsuits or claims of negligence against the business are concerned. The credits and deductions of the company are passed through to partners to file on their individual tax returns. Credits and deductions are divided by the percentage of individual interest each partner has in the company. This can be beneficial for partners who have a limited interest in the company or special tax requirements due to their interests in other businesses. Managerial duties can be divided equally or separated based on the experience of each partner. In addition, partners who have a financial interest in the company can elect to not have any authority over business decisions but still maintain ownership rights based on their percentage interest in the company. The disadvantages of it is limited to professionals, any partner can bind, not recognized in all states, and dies when one partner dies.Because of the special structure of limited liability partnerships, taxing authorities in some states recognize the structure as a nonpartnership for tax purposes. This could possibly be a disadvantage for partners who require special tax consideration. In addition, unlike general partnerships, limited liability partnerships are not recognized as legal business structures in every state. Some states limit the creation of a limited liability partnership to professionals such as doctors or lawyers. Another disadvantage is that individual partners are not obligated to consult with other participants in certain business agreements. For the protection of the overall integrity of the company, you should create a partnership agreement that specifically outlines what each limited partner can and cannot do when making business decisions.