Question

Why would these ownership structures have these kinds of documents and procedures? In other words, what is the purpose of these documents and procedures?

Answer 1

Operational documents in the business used for control activity within the business..This documents are declaration of partnership..it control the internal operations of the business..The role of each owner in business operation to make decisions and control the business..it is need thorough ownership agreement to address the issues within the business..Sole proprietors has one owner for their business operations..Ownership structures address the rules governing the business,it establish business relationship they have their own duties and responsibilities,they have profits,it helps deal with the problem,determines the procedure and rights when partner leaves a business..
sole proprietorship needed in medical practice in legal form to avoid potential risk and liabilities, cost effectiveness,limitations of owners, Tax ramification and benefits to the owner..limited liability company ownership have profit and less sharing benefits members,it having authority and have rules for governance and structures ,decision-making power on procedure ,state laws control the default..ownership structure have terms of service in record-keeping,appointment procedure..stake holders agreement vary depend on procedures and documents..