Like a sole proprietorship or a partnership, the members of a limited liability company have unlimited liability for the firm's debts.

Name: Like a sole proprietorship or a partnership, the members of a limited liability company have unlimited liability for the firm's debts.
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Question

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Members of a limited liability company (LLC) have limited liability, meaning they are not personally responsible for the firm's debts beyond their investment in the company.

Like a Sole Proprietorship or a Partnership, the Members of a Limited