An LLC is a newly formed business structure to suit the small businesses and really anybody who would like to secure a large amount of assets.
It has the ability to separate the owner(s) also known as member(s) assets from their personal assets. So if anything were to happen to there business, nothing could happen to there personal assets. A prime example and most common reason for business owners registering this structure are law suites.
Law suits usually end up in settlements for large sums of money or property or both. That is why The LLC is so great it makes a firewall between your personal assets and your business assets so nothing can happen to them.
