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Limited Liability Company

Limited Liability Company [Order]
1.	Ownership	Members
2.	Governance	Managers
3.	Formation Document	Articles of Organization
4.	Ancillary Document	Operating Agreement
5.	Organizer	Organizer
6.	Ownership Limitations • Entity as Owner • Non-Resident Alien • Holding Co. Subsidiary • Number of Owners • Multiple classes	Limitations a: Yes b: Yes c: Yes d: No Limit e: Yes
7.	Limit on Duration	30 Years
8.	Free Transferability	No, Requires unanimous consent of Members
9.	Liability of Owners	None
10.	Dissolution if Owner withdraws	Yes, automatic upon withdrawal of any member

S-Corporation [Order]
1.	Ownership	Shareholders
2.	Governance	Board of Directors
3.	Formation Document	Articles of Incorporation
4.	Ancillary Document	Bylaws
5.	Organizer	Incorporator
6.	Ownership Limitations • Entity as Owner • Non-Resident Alien • Holding Co. Subsidiary • Number of Owners • Multiple classes	a: No b: No c: No d: Limited to a specific number (75) e: No, limited to 1 class
7.	Limit on Duration	None; usually perpetual
8.	Free Transferability	Yes
9.	Liability of Owners	None
10.	Dissolution if Owner withdraws	No

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