As compared with corporations, the limited liability company (LLC) is not a good form if: the owners expect to raise money from the public through multiple investors. it is an entity. limited liability is provided to the partners of the partnership that have converted into an LLC. an LLC has less than six members who are engaged in running the firm collectively. its operating agreement can be amended by an unanimous vote.
Added by Sean P.
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"The owners expect to raise money from the public through multiple investors." - In this case, an LLC may not be the best form as it is not designed for public offerings and may have limitations on the number of investors. Show more…
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