Private limited company including limited companies and US LLCs, are treated as bodies corporate subject to United Kingdom corporation tax if the profits of the entity belong to the entity and not to its members. A limited liability company (LLC) is a relatively new business structure authorized by state statutes. The LLC is chiefly inspired by the GmbH ("Company with limited liability"), a type of business organization in Germany, and by the , a type of business organization available in many Latin American countries. In the United States, the first limited liability company act appeared in Wyoming in 1977 as special interest legislation
The Airscrew Company one of these four-bladed propellers survives at Brooklands Museum. The Lang company was absorbed into another aeronautical enterprise and vacated its works in Surrey. The company manufactured 2-blade wooden propellers for the early Spitfires and Hurricanes Airscrew became a limited company in 1931, and by 1938 had formed Jicwood Ltd as a joint venture between Itself and Halila, Ltd., of Bush House, London. The nominal capital of £36,000 was taken up between the Airscrew Co. and Halila. The board consisted of Mr. J. D. Titler (chairman), Dr. H. C. Watts (co-designer of the Leitner Watts propeller), Mr. R. Bradfield and