LLC or Limited Liability Company is a corporate entity that offers limited liability protection to its owners, also known as members. Sometimes LLC is referred to as a Limited Company, Ltd., or Limited Liability Co. Additionally, LLC can be used interchangeably with phrases such as "Limited Liability Corporation" and "Limited Liability Partnership". In some states, they use the term PLLC or Professional Limited Liability Company which is set up specifically for professionals like doctors, lawyers, and accountants. In summary, LLC is a versatile term that has many synonyms, including Limited Company, Ltd., Limited Liability Co, Limited Liability Corporation, Limited Liability Partnership, and Professional Limited Liability Company.