Background Note | HBS Case Collection | January 1998 (Revised August 2010)

Limited Liability Companies

by Henry B. Reiling


As of early 1998, virtually all U.S. states had adopted legislation permitting the organization of limited liability companies. This note describes this new type of entity and the reason why it has become so popular.

Keywords: Business Organization; Government Legislation; Taxation; United States;


Reiling, Henry B. "Limited Liability Companies." Harvard Business School Background Note 298-097, January 1998. (Revised August 2010.)