A limited liability company (LLC) is a flexible form of enterprise that blends elements of partnership and corporate structures. It is a legal form of company that provides limited liability to its owners in the vast majority of United States jurisdictions. LLCs do not need to be organized for profit.
Read more about Limited Liability Company: Overview, Flexibility and Default Rules, Income Taxation, Advantages, Disadvantages, Variations, International Equivalents
Famous quotes containing the words limited and/or company:
“Moreover, the universe as a whole is infinite, for whatever is limited has an outermost edge to limit it, and such an edge is defined by something beyond. Since the universe has no edge, it has no limit; and since it lacks a limit, it is infinite and unbounded. Moreover, the universe is infinite both in the number of its atoms and in the extent of its void.”
—Epicurus (c. 341–271 B.C.)
“I have noticed that doctors who fail in the practice of medicine have a tendency to seek one another’s company and aid in consultation. A doctor who cannot take out your appendix properly will recommend you to a doctor who will be unable to remove your tonsils with success.”
—Ernest Hemingway (1899–1961)