The Limited Liability Company aka LLC, is a global business entity choice. 10 years ago, this was not the case. The corporation was the more popular choice. The simplicity of the LLC is attractive to new business owners and current business owners looking to simplify their business transactions.
The LLC is owned by members. The members can manage the LLC.
A corporation is owned by shareholders, the shareholders elect directors, and the directors elect a president, secretary, and treasurer. Even if there is only one shareholder for a small business, this sole shareholder must fill all these roles, whereas, with the LLC, the sole owner can just entitle himself as the sole member, with a member managed LLC and be done.
The Limited Liability Company is well known now in 2013, globally. Many countries are making the LLC option available to spur job growth and business growth.