4304a866_tion_vs_LLP_vs_Sole_Proprietor__3
[0] Business Management [1] Shareholders elect a board of directors who appoint officers to carry out the day-to-day operations. [2] Shareholders elect a board of directors who appoint officers to carry out the day-to-day operations. [4] Business is managed by general partners or as set forth in the agreement. General partners typically carry liability of the LLP. [5] Business is managed by the individual owner. [3] 
Operating agreement determines management.
LLC vs Corporation vs LLP vs Sole Proprietor
3