What Is  an LLC?

I know a thing or two about the complexities of launching a new business.

As the owner of several businesses, I know from experience that you’ll have a quadrillion questions.

And one of the initial questions is, “What is an LLC, and how does it compare to a corp?”

Then naturally, your next question will be, “So…which one should I set up?”

Most “movers and shakers” need to pick between establishing a corporation or a limited liability company.

Now, before we look at some of the more important factors that differentiate the two, let me first answer the question of…

What is  an LLC?

An LLC, or limited liability company, is a legal business entity you form to protect your personal assets from liability.

Corporations are another business entity that also provides liability protection. But, they are set up a little differently from an LLC.

What is a corporation?

These two business entity options have some similarities and, of course, differences.

What are the differences between an LLC and a Corp?

Ownership

An LLC is typically either owned by one person or a small group of co-founders. But technically, an LLC doesn’t have “owners”; it has “members.”

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