Starting your LLC
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An LLC has a more flexible structure and fewer requirements than a corporation. It also offers liability protection and potential tax savings that aren't available to sole proprietorships or partnerships.
An LLC is governed by a written operating agreement that describes the way the business will be run, the roles of the members, and the way profits will be shared. But LLCs are very flexible in the specifics of the agreement. In contrast, corporations have a rigid structure of officers, directors, and shareholders.