1 Thou and Ye Forms.  2 As early as the late thirteenth century, the second person plural forms (ye, you, your) began to be used with singular meaning in circumstances of politeness or formality, leaving the singular forms (thou, thee, thy/thine) for intimate, familiar use.
Limited Liability Company. You and your spouse may operate a personal business as an LLC. This type of business structure is authorized and regulated by the individual states, but is not recognized by the IRS as an entity for federal income tax purposes.
LLP and LLC. The LLP and the LLC status both provide law firms with significant protections -- with significant differences. Under both forms of incorporation, the partners of a law firm do not bear the full liability -- or responsibility -- for any of the firm's debts or legal obligations. If one of the partners in an LLP or LLC mishandles a case and is later sued, the other partners don't have to cover this partner's debts.