A limited liability company the individuals who own the company are generally not personally liable for the company debts.

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This is one of the main advantages of forming an LLC. The personal assets of the owners are usually protected in the case of business debts, lawsuits or bankruptcy of the company. However, there are some exceptions to this depending on the circumstances and state laws, so it's important to follow proper business practices and separate personal and business finances to maintain the liability protection.

A Limited Liability Company the Individuals Who Own the Company