A limited liability company (LLC) limits the potential for its members to be personally liable for the LLC's business debts. It features pass-through taxation.

Limited partnerships (LPs) are a specific type of business structure that consists of at least one general partner and one or more limited partners. The general partner typically assumes full ...

LPs invest capital and receive income, carrying no personal liability beyond their investment. GPs manage daily LP operations but face unlimited personal liability if the LP fails. LPs are taxed as ...

A corporation is a separate legal entity that issues shares (stake in the company) to owners and protects their personal liability A partnership is owned by its partners and is easier to establish and ...