Mosaic Commons is incorporated as an LLC, a Limited Liability Corporation.

An LLC is a very good way for a group of partners to hold capital and other assets in common in a legally recognized way. The equity members are partners in what we're doing. The agreement between us is a legal framework which is enforceable by commonwealth law. It's also a legal framework recognized by banks and lending institutions; our bank would not open an account for the group without some type of corporate formation.

An LLC is a Limited Liability Corporation. As such, it provides the partners with a significant measure of individual liability protection: in the event of legal action against us, it's harder (though not impossible) for a litigant to reach through the LLC to get at its individual members' assets.