Limited Liability Company

Definition of "Limited Liability Company"
  1. 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
How to use "Limited Liability Company" in a sentence
  1. The entrepreneurs decided to start their new venture as a Limited Liability Company to protect their personal assets.
  2. As a Limited Liability Company, the business was able to safeguard the personal finances of its members in case of potential losses.
  3. The Limited Liability Company structure was an attractive option due to its flexibility in taxation.

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