An LLC stands for, Limited Liability Company, and the reason that it has the moniker LLC is because truly the liability of the owner is supposed to be limited as opposed to a corporation who has a lot more exposure to liability through a lawsuit.
So if you have a small business, maybe just one to five, six, even ten people involved in the business, an LLC is a very good legal entity to select. The LLC gives you a layer of protection if something happens in the business, somebody is suing you individually, as opposed to being able to only sue the LLC.
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