MLchartDataset catalogue

Limited liability company LLC

Term · Insurance and risk management · MLC-T-INS-002017

A business structure that combines elements of a partnership or sole proprietorship with the limited liability of a corporation. Owners, known as members, are generally protected from personal responsibility for the company's debts or liabilities. This structure is common for small to medium-sized businesses seeking to mitigate personal financial risk.

Table 1. Record
IdentifierMLC-T-INS-002017
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002017",
  "term": "Limited liability company LLC",
  "field": "Insurance and risk management",
  "definition": "A business structure that combines elements of a partnership or sole proprietorship with the limited liability of a corporation. Owners, known as members, are generally protected from personal responsibility for the company's debts or liabilities. This structure is common for small to medium-sized businesses seeking to mitigate personal financial risk.",
  "url": "https://mlchart.com/terminology/insurance/limited-liability-company-llc/"
}

Record 1,949 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.