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The Multi-member LLC, One-member LLC, and the Law of Enterprises in Vietnam are different concepts related to business entities and their legal frameworks. Let's explore the similarities and differences among them: Similarities: 1. Limited Liability Protection: Both the Multi-member LLC and One-member LLC in Vietnam offer limited liability protection to their owners. This means that the owners' personal assets are generally protected from business liabilities and debts. 2. Legal Framework: Both types of LLCs are governed by the Law of Enterprises in Vietnam, which provides the legal framework for establishing and operating businesses in the country. Differences: 1. Number of Members/Owners: The key difference between a Multi-member LLC and a One-member LLC is the number of members or owners. A Multi-member LLC in Vietnam has two or more members, while a One-member LLC has only one owner. 2. Ownership Structure: In a Multi-member LLC in Vietnam, the owners are referred to as members, who may have different ownership percentages, rights, and responsibilities. In contrast, a One-member LLC has a single owner who holds full ownership and control over the business. 3. Legal Requirements: The Law of Enterprises in Vietnam imposes certain legal requirements on both Multi-member LLCs and One-member LLCs. However, there might be additional regulations and obligations for Multi-member LLCs due to the presence of multiple owners, such as the need for a written agreement among members. 4. Decision-making and Management: In a Multi-member LLC, the decision-making and management responsibilities are typically shared among the members, as outlined in the operating agreement or bylaws. In a One-member LLC, the sole owner has full authority and control over the business's decision-making and management. 5. Transferability of Ownership: In Vietnam, the transferability of ownership interests can vary between Multi-member LLCs and One-member LLCs. Multi-member LLCs may have provisions in their operating agreement or the Law of Enterprises that allow for the transfer of ownership interests among members. However, One-member LLCs may have restrictions on transferring ownership, as they are primarily owned by a single individual.

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Similarities & Differences between Multimember & Single member LLC

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Group Ngan - Hai - Trang - Nico - Nguyen

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Group Ngan - Hai - Trang - Nico - Nguyen

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Similarities between Multimember LLC and Single-Member LLC: