Business Structures for Professional Firms


As you can see, there’s a professional version of three of the most common business structures: the corporation, the limited liability company, and the professional limited partnership. Each of these shields you from liability for a co-owner’s mistakes (although you would still remain responsible for your own errors). With the liability issue addressed, choosing a business structure can be based on your fundraising needs and taxation preferences.


Not all of these structures are available in every state. And some states may require special forms, and even approval, from the professional licensing organization in your company’s jurisdiction.

Deciding Factor

If you’re a professional who is subject to the possibility of high levels of liability, it’s a pretty easy call. These structures were all specifically designed to address the needs of professional firms like yours.

Game Plan

Contact the Secretary of State’s office in your state to find out which of these structures are available in your business location.
Need Business Insurance?

Need Business Insurance?

For more than 200 years businesses have trusted The Hartford. We can help you get the right coverage with an online quote.
Iniciar cotización
The content displayed is for information only and does not constitute an endorsement by, or represent the view of, The Hartford.