A hybrid business entity with characteristics of both a corporation and a partnership is called:

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LLC stands for Limited Liability Company which is a hybrid business entity that has characteristics of both a corporation and a partnership. Like a corporation, it provides limited liability protection to its owners and like a partnership, it allows for pass-through taxation. S-Corporation and P-Corporation refer to specific types of corporations, while CP is not a recognized business entity.

A Hybrid Business Entity with Characteristics of Both a Corporation