ex 2 q9

9. Explain an LLC, and discuss the advantages and disadvantages of its formation. Advantages: It limits the liability of the owner and partners of LLC. It is a blend of partnership where two or more owners and a corporation start a business. It has certain liability protections. The disadvantages are LLCs are regulated by different laws of different states in some cases LLC needs to be dissolved upon the death or bankruptcy of a partner and or member. LLC is not a good option if the owners want to launch a publicly owned company