Limited Liability Company (llc)

Life Estate Reading Limited Liability Company (llc) 1 minute Next Limited Liability Partnership

Definition:   an alternative, hybrid business entity with the combined characteristics and benefits of both limited partnerships and S corporations.

Pronunciation:    \ˈli-mə-təd\ \ˌlī-ə-ˈbi-lə-tē\ \ˈkəmp-nē, ˈkəm-pə-\

Used in a Sentence:   We decided to form a limited liability company to start our business.