The limited liability company (LLC) may be the best organizational form for most businesses. For a significant number of firms, however, the corporate form or some other form of organization may be better. (See The Nature and Classification of Corporations.) 

(a) The first group will outline several reasons why a firm might be better off as a corporation than as an LLC. 

(b) The second group will discuss the differences between corporations and LLCs in terms of their management structures.