LLC

Also called: limited liability company, L.L.C.

Limited liability company. A common legal structure for a small business. It keeps the owners' personal belongings separate from the business's debts and is generally simpler to set up and run than a corporation.

For example: A founder running a small consulting business with no plans to take investor money might form an LLC.

Connects to 7

C-corp Concept
Equity Concept
Venture capital Concept
Incorporation in Delaware Concept
S-corp Concept
EIN Concept
Oklahoma Bar Association Organization

This glossary is plain-language orientation, not legal or financial advice. Before you decide on a company structure, a contract, taxes or a fundraising deal, talk with a lawyer or an accountant.