An LLC (Limited Liability Company) is a popular business structure designed to protect the personal assets of its owners. It offers liability protection similar to a corporation while maintaining the flexibility and simplicity of a partnership.
LLCs are considered a hybrid business entity, combining the advantages of corporations and partnerships—without many of their disadvantages.
An LLC can be used to:
- Operate a business
- Hold assets such as real estate, vehicles, boats, or aircraft
- Manage investments or intellectual property
Because of its flexibility, liability protection, and tax options, an LLC is often the preferred choice for startups, small businesses, and international entrepreneurs.
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