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

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