The conversation between human and AI assistant.
What is the difference between firm, factory, industry, company, workshop, corporation, incorporation, organisation and plant?
What about an LLC, how is it different from a corporation?
An LLC, or limited liability company, is a type of legal entity that provides the same limited liability protection as a corporation, while allowing for more flexibility in terms of management and taxation. LLCs are generally easier and less expensive to set up than corporations, but they also tend to have less prestige and less access to capital. Does that answer your question?