Limited Liability Companies

A Limited Liability Company, often known by its initials “LLC”, is a business entity that is designed with a structure similar to a partnership, but it has the limited liability aspects of the Corporation. The LLC allows the business owner/owners to have some operational flexibility with the limited liability aspects of a Corporation.

• The personal liability of the founders is limited to the amount of money put into the Corporation (with the exception of unpaid taxes).
• It is separate and legal “being”, separate and apart from its owner(s) (stockholders).
• It can sue and be sued and can enter contracts.