> Hybrid of corporation and limited partnership
----------------
> There are no more partners , all are members of the LLC
-------------
> Registering as an LLC is suitable for startups in the Development stage ( after idea stage) , but are not ready for VC investors yet . 
--------
> Angel investors are interested in such setups , due to potential tax reductions . VC prefer to buy shares from a corporations , rather than purchasing the memberships in LLC

# Advantages 
1. No liability ( personal assets are safe ) , unless one acted in an illegal , unethical or irresponsible manner while carrying out the company activities
2. Ownership can be separated into classes - opens up more means of raising [[Equity]] financing
3. Doesn't require a board and compulsory meetings with minutes being recorded 

> LLC does not issue stocks

If one wants to issue stocks, they have to become a [[Corporation]]

> Even though we might call members as shareholders , there is no share to trade

# Disadvantage 
1. Lack of shares
2. Memberships can't be transferred easily like shares
3. The company might have to dissolve when a member leaves
4. 

# Special Type 
## Public
- Trades in the stock exchange
- Full disclosure of financials 
- Tightly regulated
- No limit to number of shareholders
- **Full liquidity , easily transferable shares at their discretion**


#### Disadvantage :
- If any violation or dispute arises , founding owner might lose control over business


## Private
- Not publicly traded , hence not strictly regulated
- Maximum shareholders - 50
- **Not as liquid as public limited**
- Capital growth is not as good as the public counterpart