Monica and Chandler are reviewing business structures for their new bagel bakery and have discovered they like some aspects from each of the business structures they have reviewed. Ideally, they would like to use a structure that combines elements from more than one business structure. Which business structure is a hybrid of two other structures?
A limited liability company (LLC) is a hybrid business structure that combines elements of both a corporation and a partnership. It provides limited liability protection to its owners (members) like a corporation, while also offering the flexibility and tax advantages of a partnership.
