A limited liability company is an enterprise legal person established in accordance with the Company Law and other relevant laws. Shareholders shall be liable to the Company to the extent of their capital contribution, and enjoy the benefits in proportion to their shares. The company is liable for its debts with all its assets.
A limited liability company has five main characteristics:
1. Shareholders shall bear limited liability with their capital contribution.
2. The company is liable for debts with its assets; The company's assets include many aspects, one is the capital contribution of shareholders, and the other is all kinds of property formed through production and operation after the company was established. Creditor's rights and other rights, including tangible assets and intangible assets. When the company is liquidated, it is only liable for debts to the extent of all its assets, and creditors cannot claim claims other than the company's assets.
3. The number of shareholders of the company meets the statutory requirements.
4. Equity transfer shall comply with legal procedures and company regulations.
5. The company can't offer shares publicly and can't issue shares.