Limited Liability Company just means there aren’t any shareholders. Only the owner can be held to account and/or will lose money if the business goes under.
Every trucker that owns their own vehicle/routes is running an LLC and it isn’t so they can be protected from the failure of their business, it’s because they’re the only ones who will be impacted if the company goes under.
Source: I was an Owner-Operator and had to learn this terminology when setting up my LLC.
Limited Liability Company just means there aren’t any shareholders. Only the owner can be held to account and/or will lose money if the business goes under.
Every trucker that owns their own vehicle/routes is running an LLC and it isn’t so they can be protected from the failure of their business, it’s because they’re the only ones who will be impacted if the company goes under.
Source: I was an Owner-Operator and had to learn this terminology when setting up my LLC.