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A limited liability company (LLC) is a business entity that helps to protect the business owner from the liabilities incurred by the company they own. As a sole proprietor, you and your business ...
The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. As a business entity, an LLC is often more flexible than a corporation and may be well-suited for companies with a single owner. [5]
Gesellschaft mit beschränkter Haftung (GmbH; German: [ˈgeːɛmbeːˌhaː]): company with limited liability ≈ private limited company (UK), limited liability company (LLC) (US); at least one shareholder; minimum equity €25,000.
Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company, or joint venture. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets ...
A corporation is a separate legal entity that issues shares (stake in the company) to owners and protects their personal liability A partnership is owned by its partners and is easier to establish ...
In the United States, corporations have limited liability, and the expression corporation is preferred to limited company. A "limited liability company" (LLC) is a different entity. However, some states permit corporations to have the designation Ltd. [6] (instead of the usual Inc.) to signify their corporate status. A corporation must file ...