A limited liability company (LLC)provides limited liability to all of its owners and permits all of its owners to participate in management.

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A limited liability company (LLC) is a hybrid business structure that provides limited liability protection to its owners, like a corporation, but allows all of its owners to participate in management, like a partnership. This means that the owners (also called members) of an LLC are not personally responsible for the debts and liabilities of the business, and their personal assets are protected from business creditors, lawsuits, and bankruptcy. At the same time, the members can actively manage the day-to-day operations of the business or appoint a manager or board of managers to oversee the business. Therefore, an LLC is a popular choice for small businesses that want to combine the liability protection of a corporation with the flexibility and tax benefits of a partnership or sole proprietorship.

A Limited Liability Company (LLC)provides Limited Liability to All of Its