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 Timberland Company father had started. In February 2007, the company acquired Howies, the Welsh clothing company. In June 2011, Timberland signed a definitive merger agreement with VF Corporation at $43 per share or approximately $2 billion. In 2012, Howies was sold to its management by VF. The Timberland Company Timberland LLC is an American manufacturer and retailer of outdoors wear, with a focus on footwear. It is owned by VF Corporation. Timberland footwear is marketed towards people intending outdoor use. The company also sells apparel, such as clothes, watches, glasses, sunglasses and leather goods. Timberland’s corporate headquarters are located in Stratham, New