What exactly is an LLC? Which are the advantages of an LLC? Deciding on the best company entity could be tricky, but understanding just just what an LLC is can really help you create the choice that is best. LLC is short for restricted obligation company, and it will protect the private assets of the company owner from legal actions. An LLC could be taxed as a proprietorship that is sole an S Corporation or a partnership. An LLC may have a number that is unlimited of unlike an S-corp, which can be restricted to 100 investors. This article is actually for business owners who would like to determine if an LLC could be the right structure for their brand new company.