Hey john you ready for that Special types of ownership test?
No!?! I mean I get the gist of it, its just that I don't understand what an LLC is?
its pretty easy all you have to remember is...
Wait!!! I still don't what it means to have an LLC?
you'll be alright bro just ask the teacher what you need to know about it before the test starts
Oh man thats the bell..well good luck on your test
Hey Ms.grapes Can we go over what it means to have an LLC real quick I really don't understand
ugh I hate tests!!!
Oh man I forgot we had a test
Sure John, basically an LLC as you already know is a type of corporate structure where the members of that company cannot be held personally liable for that company's debts and or liabilities.
So what you trying to say is that any problems that concern the work towards the company whether its incompleted or just done wrong is not the employees fault?
Oh I see, well how does it work?
Here I'll explain. Its more or less made up with a partner to an arrangment which requires articles of organization to be filed with the states. Its mostly seen as a hybrid entity, basically a combination of characteristics from a corporation and sole propietorship
Yes sam thats somewhat correct. Also John to answer your question its not that quite complicated