Limited Liability Company
- A state-sanctioned business entity where members are not personally accountable for the business's actions, debts, or responsibilities, and can choose to have taxes applied as though it were a partnership
- The entrepreneurs decided to start their new venture as a Limited Liability Company to protect their personal assets.
- As a Limited Liability Company, the business was able to safeguard the personal finances of its members in case of potential losses.
- The Limited Liability Company structure was an attractive option due to its flexibility in taxation.