Some Characteristics of Limited Liability Company (LLC) are:
- An LLC is a type of business where the owners are not personally responsible for business debts.
- The owner’s personal money and property are separate from the business’s debts.
- Setting up an LLC takes more steps, such as registering with the state.
- Owners can decide how to run the business and share tasks with others.
- An LLC offers the safety of limited liability while still being flexible to manage.