what is a limited liability corporation
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. Limited Liability Company (LLC) is a relatively new business structure authorized by state statute. The LLC is chiefly inspired by the GmbH (Company with limited liability), a type of business organization in Germany, and by the limitada, a type of business organization available in many Latin American countries.