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 Pyrene Company Limited Fire Security Limited was formed. In that same year a Bristol Britannia aircraft landed on a carpet of Pyrene foam at Manston piloted by Donald Chubb. The Pyrene Company Limited The Pyrene Company Limited from their beginning in 1914, until 1971 when they became Chubb Fire Security Limited, were among the world's leaders in the manufacture of fire fighting equipment. The name Pyrene was epitomised by their famous 'pump' extinguisher which was installed on public transport, commercial and private vehicles throughout the western world. In 1907, a Scottish engineer, unable to get financial backing in the UK, took his idea