Some offshore jurisdictions have created particular forms of offshore firm in a bid to attract business for their jurisdictions. Examples embody “segregated portfolio corporations” and restricted function firms. Limited liability firms , restricted legal responsibility partnerships, and different specific types of business organization shield small business their owners or shareholders from business failure by doing business underneath a separate legal entity with sure legal protections. In distinction, unincorporated companies or individuals working on their very own are normally not as protected. The time period can additionally be usually used colloquially to refer to a company.
- Many countries are signatories to international treaties regarding intellectual property, and thus firms registered in these