Member-Managed LLC

A Member-Managed LLC (Limited Liability Company) is a business structure where all owners, called members, share responsibility for managing the company's operations. In this setup, members make decisions together, handle day-to-day tasks, and have equal authority, unless specified otherwise in their operating agreement. This structure is popular for small businesses, as it allows for flexibility and simplicity in management while providing liability protection to its members, meaning their personal assets are generally safe from business debts. Overall, it's a way to run a business collaboratively while enjoying the benefits of limited liability.