What is an LLC?
What is an LLC?
user
What an interesting question!  A Limited Liability Company, or LLC for short, is a business entity.  It has some special legal rights and responsibilities, just like a corporation.  A LLC can be structured as a single-owner business, or as a partnership.
assistant
Is there an advantage to being an LLC?
user
An LLC is able to shield its owners from some of the liabilities of the business, and give them limited liability.  On the other hand, an LLC is a legal entity, which has its own tax and paperwork requirements.
assistant
So they have less liability?
user