What is a Limited Liability Company (LLC)?

A limited company in the United States is a Limited Liability Company (LLC) ^[1] , which is a company organization form. The economic responsibility of a limited company is limited to the funds invested by the investor. If a limited company is wound up by creditors, creditors cannot claim compensation from the shareholders' personal property. In some places, a limited company is not the same as a company limited by shares. A company is relatively suitable for small and medium-sized enterprises, and a company is relatively suitable for large enterprises. However, there are some places, regardless of the size of the company, the limited company is the most common type of limited company. The concept of a limited company appeared later, and some local laws did not define a limited company.