What is an LLC? How can I know if I should get one?
What is an LLC? How can I know if I should get one?
user
As a general rule, the fewer the rules and regulations governing an organization, the more flexible it is and the more people and organizations that it can bring together. So the term “limited liability corporation” is referring to a business that is designed so that its owners are protected from lawsuits, while at the same time being able to use that same structure to conduct business.  I don’t think you’ll benefit from an LLC in a casual, personal or side business context, since the LLC isn’t really designed for that.
assistant
Interesting! What businesses do best as LLCs?
user
Corporations: There are lots of kinds of corporations, and it all depends on what laws and regulations govern it, but there’s a legal benefit of doing business as a corporation called “limited liability.” What this means is that you only have to be liable for the money that you put into your business, and not for other debts that the corporation might incur. So if you invest in a large, successful corporation, you’ll be protected against any lawsuits or debt that they might get into.
assistant
What kinds of debts can businesses that are not LLCs incur?
user