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Law firms and many medical practices operate under a private partnership or LLP. The theory behind it is that if people depend on what you say, you shouldn’t be able to hide behind a corporation as a shield.
There aren’t too many professions/industries that are limited in what corporate structures they can operate in.
Whats the ask here? An easy track to partner? Or what companies aren’t incorporated? You should know that you can still be a high level individual with substantial stock options at a corp. ie. Goldman partnership
Makes sense, never thought about the license aspect but you are right, makes sense