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Home Definitions

What is a Limited Liability Company (LLC)? Definition or Meaning

Posted by Bizversity

The United States version of the private limited company, a Limited Liability Company or LLC is one where the company’s members cannot be held liable for the company’s debts or assets. An LLC is a hybrid entity consisting of features from a corporation, a partnership or a sole proprietorship. Flow-through taxation is an advantage, but dissolution upon death or bankruptcy of a member is a disadvantage.

For example…

Did you know that the American subsidiary behind Fiat Chrysler Automobiles is an LLC? Fiat Chrysler Automobiles US LLC or FCA LLC was named as such in 2014.

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