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Organizations

Organizations

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Organizations

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  1. Organizations • Legal forms of business • Sole proprietorship • General Partnership/Joint Venture • Limited partnership • Corporations (incl S-Corp and closely held) • Government organizations • Non-governmental organizations (NGO)

  2. Organization • Limited Liability Corporation • No double taxation • Unlimited number of members • Separate legal standing (liability shield for members) • Can use guarantor pledge to pursue specific projects without encumbering all • Simpler governance than c-corps (control by members)

  3. Organization • Voting interest aligns with profit interest • All members approve sale or transfer of ownership interests (control votes) • LLC dissolves on death resignation expulsion, etc. of any member • LLC starts with filing of Articles with state of registry. Must include a dissolution date (LLC’s do not exist in perpetuity) • Check out differences at <http://www.mycorporation.com>

  4. Project Relationships • Project delivery systems • Traditional: owner- architect (agency) provides oversight on owner-contractor (independent). Owner assumes risk • Construction Management- Owner- CM (agent) coordinates with Owner-architect (agency) and Owner-Contractor (independent) CM assumes risk for a fee • Design-Build- Owner- DB Company (agent or independent) DB assumes risk for fee- fast and economical, 70-90% of jobs in Europe and Japan