The Origins of LLCs
The origins of the limited liability company come from Germany back in the 1890’s, and spread rapidly throughout the country and the world. Each country adopted the four distinguishing marks of forming an LLC. First of all, the world “limited” must be used somewhere in the company’s name to designate to the public what it is. Secondly, the company is its own entity and not just a part of the owners assets under law. Thirdly, members are allowed to police and control who is able to become a member, and not allow people to buy in that they see as undesirable. Lastly, there are allowances if a member of an LLC dies, where the whole company might be dissolved in the case that that happens. The limited liability company is looked upon as a marvelous innovation of business and law, and is taken advantage of by countless scores of companies today.
