What is an LLC?

LLC stands for Limited Liability Company. If you are looking to start your own small business, you can consider structuring the business as an LLC.

Limited Liability means, in general, you will not be personally liable for financial obligations that the LLC incurs. So, if the LLC owes money to a creditor, the creditor can only collect that money from the LLC, not from you. The LLC is a separate legal entity from you.

The C in LLC stands for Company, not Corporation. LLCs and corporations are entirely different types of business structures, but they can both offer limited liability to their owners. Corporations tend to require more formalities to set up and operate compared to LLCs.

Thickstun Luo LLC can help you start your own small business and structure the business as an LLC. Contact us today for a consultation.

LEGALESE is an online blog by Thickstun Luo LLC. The blog explains legal terms and concepts in plain English.

Disclaimer: The LEGALESE blog and the posts therein do not form an attorney-client relationship between you and Thickstun Luo LLC. Furthermore, this blog is not intended to render legal advice regarding your specific situation. You should consult an attorney for specific legal advice. Some content in LEGALESE blog posts pertain to state-specific legal rules and concepts that may not be applicable in every jurisdiction.