Limited Liability Corporation

Limited Liability Corporation is often a corporate structure where the members from the company cannot possibly be held personally liable for the company’s debt or liabilities. The limited liability corporation is often a hybrid legal entity which includes both the characteristics of an corporation and of an partnership. It describes a business unit which includes acquired a one of a kind legal structure. It’s different from other designs of business set ups, like sole proprietorships, partnerships and corporations. It offers the advantages of a partnership devoid of the insecurity of outstanding personal liability in the instance of bankruptcy or cessation.