| Business Name |
Limited Liability Company |
| Can be owned and run by one individual and the business is not separate from the owner. |
It enjoys corporate identity as it has a separate legal identity from the owner(s). |
| The death of the owner is the end of the business. |
It has perpetual existence. |
| Ownership is not transferable. |
Ownership can be easily transferred. |
| The company cannot own assets separate from the owner. |
Protection of personal assets. The company can own its own assets separate from that of its owners. |
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