A limited liability corporation is a hybrid of a publicly held corporation and a partnership.

Name: A limited liability corporation is a hybrid of a publicly held corporation and a partnership.
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A limited liability company (LLC) is a business structure that combines the limited liability protection of a corporation with the tax benefits and flexibility of a partnership. It is not a publicly held corporation, as it is owned by its members rather than shareholders.

A Limited Liability Corporation Is a Hybrid of a Publicly