Limited liability company
Limited liability company (better known by its acronym, LLC; hereinafter, LLC) is a legal entity that does not issue stocks, but is owned by one or more members, who are granted limited liability. That means that the members are only liable to the extent of their investments.
- Limited liability company. A form of business organization that is owned by one or more members. Members are only liable to the extent of their investments.
- Limited liability company. A popular type of organization that is a hybrid between a partnership and a corporation.
According to Management by Robbins and Coulter (14th edition),
- Limited liability company. A form of legal organization that's a hybrid between a partnership and a corporation.
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.