LLC (Limited liability Company) is a
legal form of business company offering liability to its owners. LLC
is suitable for smaller companies with a limited number of owners. An
LLC can choose to be either member managed or manager managed.
LLC is very flexible since the owners
have limited liability for the actions and debts of the company. A
member managed LLC may be governed by a single class of members or
multiple classes of members whereas a manager managed LLC creates a
two-tiered management structure that approximates corporate
governance with the managers having powers similar to corporate
officers and directors.
Share This