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A low-profit limited liability company (L3C) is a legal form of business entity in the United States. [1] Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. [1]
A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation . [ 1 ]
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 ...
Private Limited Company: Liability, limited by shares; Name, cannot be deceptively similar to another registered company; Management, at least 1 director; Shareholders, limited to 1–50 excluding persons who are employed by company, prohibition against any invitation to the public to subscribe for shares; Founders, 1–50; Nationality ...
In 2007 the company had almost 100,000 square feet (9,300 m 2) of space in the building. That year it renewed its lease. [13] Troy, Michigan (1966) Relocated from Birmingham to Bloomfield Hills in 1972, and from Bloomfield Hills to Troy in 2011. [citation needed] Lansing, Michigan (1970) Washington, D.C. (1978) Grand Rapids, Michigan (1989)
As Brandeis J put it, when one "company actually controls another and operates both as a single system, the dominant company will be liable for injuries due to the negligence of the subsidiary company." There are a number of exceptions, which differ according to the law of each state, to the principle of limited liability.