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What is a limited liability company?

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Answer:

A limited liability company (LLC):

is a type of business ownership combining several features of corporation and partnership structures
is not a corporation or a partnership
may be called a limited liability corporation, the correct terminology is limited liability company
owners are called members not partners or shareholders
number of members are unlimited and may be individuals, corporations, or other LLC's

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Contributor:

Mark

First answer by ID2898557463. Last edit by LeastDuck. Contributor trust: 690 [recommend contributor ]. Question popularity: 128 [recommend question].

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