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  • by Admin   |  
  • in Corporations   |  
  • May 24th, 2013

LLC or Limited Liability Company is similar to a corporation; the initial document is called the Articles of Incorporation, rather than articles of Incorporation and the company’s owner are members rather than shareholders.



Like a corporation, the LLC protects its owners from individual liability for company debts and misdeeds. While a personal creditor can attached corporate stock and gain control of a corporation, a creditor cannot become a member and therefore cannot take control of the LLC.

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