A limited liability company (LLC) form of ownership
Why are so many new businesses choosing a limited liability company (LLC) form of ownership?
3. Flexibility: An LLC offers more flexibility than other forms of ownership as it allows for different types of management structures (member-managed/manager-managed) and profit distributions among members (unlimited options).
4. Perpetual Existence: An LLC has perpetual existence, which means it can outlive its founding members; this makes succession planning simpler compared to other forms of ownership like partnerships where all members must agree to continue in order for it to exist after one leaves or passes away.