An L.L.C. is a company structure in the U.S.A. in which the owners are not held personally responsible for the company’s debts or liabilities. The term’s L.L.C  is not used in all states  it may be referred to as a limited liability corporation, limited company, or something similar. It is a business entity with characteristics of a corporation and a partnership or sole proprietorship. L.L.C. members can create their own operating agreement that outlines how the L.L.C. will be run, which gives the L.L.C. more flexibility than a corporation. An L.L.C. is not a corporation, and it is not a partnership but a distinct legal entity from its owners. It can be created by filing articles of incorporation with the secretary of state in the state where the L.L.C. will be conducting business. The articles of incorporation must list the name, the names of its members, the duration, and the purpose.