Limited liability company


13 March 2021

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A limited liability company (hereafter referred to as an LLC) is a commercial company type with legal personality status. One of the major features and benefits of any LLC is the fact that shareholders can’t be held personally responsible for the company’s debts or liabilities — only the assets of the business itself are at risk. A major difference between a joint-stock company and an LLC is that the latter is always a close company and its shares are not publicly traded.
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