meaning of a limited liability company
A Limited Liability Company (LLC) is a hybrid business entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many owners there are).An LLC, although a business entity, is a type of unincorporated association and is not a corporation.or limited liability companies in the United Kingdom, see Limited company. For a general discussion of entities with limited liability, see Corporation. A limited liability company (LLC) is the United States-specific form of a private limited company.