Llc
/ˌɛlˌɛlˈsiː/
Definitions
- (n.) A limited liability company, a hybrid business entity combining pass-through taxation of a partnership with the limited liability of a corporation.
The entrepreneur formed an LLC to protect personal assets from business debts.
Forms
- llc
- llcs
Related terms
See also
Commentary
Often favored for its flexibility and liability protection, an LLC requires compliance with state-specific statutes and formalities.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.