The United States version of the private limited company, a Limited Liability Company or LLC is one where the company’s members cannot be held liable for the company’s debts or assets. An LLC is a hybrid entity consisting of features from a corporation, a partnership or a sole proprietorship. Flow-through taxation is an advantage, but dissolution upon death or bankruptcy of a member is a disadvantage.
For example…
Did you know that the American subsidiary behind Fiat Chrysler Automobiles is an LLC? Fiat Chrysler Automobiles US LLC or FCA LLC was named as such in 2014.
