The abbreviation "LLC" stands for Limited Liability Company. Earlier the primary advantage of the LLC was made clear: as with the Corporation, the LLC protects largely the personal assets of the founder. And, the liability is generally limited to the company's assets. In addition, the LLC offers companies a lot of latitude in deciding how to be an entrepreneur of the structured company. The “LLC” name, and the liability regime, suggest a similarity between the LLC and the German GmbH. In some cases this assumption is true but there are important differences.
The LLC consists of its members, which are the shareholders or owners of the company. In a so-called single-member LLC, there is only one owner, while the multi-member LLC is a company with multiple owners. A distinction is also based on the type of LLC which its management has organized.
The LLC allows its founders great freedom in designing their company. It is still a relatively new form of enterprise in the United States. In 1977 Wyoming was probably the first U.S. state to officially allow the LLC as a corporate form. Today the formation of a LLC is possible in all the U.S. states.
When setting up business operations in the U.S. initially we had many open questions and uncertainties. We not only saved the high cost of a specialized lawyer, with ALTON LLC we found an experienced, and German-speaking, partner to not only found our company but also for consulting advice as well as for all our necessary office services such as postal services, telephone and fax services, and much more - and all to our complete satisfaction. - Markus Meixner (Telecommunications Software GmbH)