Business Insights

  What Is An LLC Membership Certificate? LLC membership certificates look like stock certificates issued by a corporation, however, they do not function in the same way. The certificate lists the name of an LLC member and details their ownership interest in the company.  The law does not require LLCs to issue membership certificates. This […]

Here we cover how an LLC can open a bank account and what documents may be required. What is an LLC Bank Account? An LLC bank account is a business bank account opened specifically for a Limited Liability Company (LLC). Opening a separate bank account is an important part of setting up a business as […]

What Is a Certified B Corporation? Certified B Corporations are for-profit entities that exhibit world-class standards for sustainability, transparency and accountability. These standards are audited periodically by the independent industry standard organization, B Lab.  B Corp Certification can be likened to Fairtrade or USDA organic certification for products such as bananas or milk. The difference […]

What is A DUNS Number? DUNS stands for the “Data Universal Numbering System”. The DUNS Number was created by data services company Dun & Bradstreet (D&B), and is designed to mimic the personal credit reporting system but for commercial businesses. Lenders widely recognize the system as the universal standard for establishing the creditworthiness of companies. […]

Lack of Business Formation Vocabulary in Education It is not surprising that in high school and college, students never learn the vocabulary of incorporating new businesses. What is surprising is that business formation vocabulary is not even part of the curriculum in law schools or business schools. Moreover, entrepreneurship classes breeze past key distinctions in […]

What Is An Individual Tax Identification Number (ITIN)? Individual Tax Identification Numbers, or ITINs, are a type of unique tax ID number assigned by the IRS to individuals who need to pay taxes in the United States, but who are not eligible for a US Social Security Number.  People who are typically eligible to obtain […]