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The limited liability company, better termed as a LLC, can be a unique business entity choice. It can be very unfamiliar with the America. Wyoming "imported" it from Europe in 4 decades ago. It didn't catch on in the opposite states until an IRS ruling in late 1980s determined perchance taxed like a partnership somewhat. This appeared to transmogrify it into a good choice for small businesses and organizations. Over the next 20 years, the LLC has slowly become an accepted business entity choice and law been recently developed around it.
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One associated with law which was developed may be the idea of lifting the corporation veil. This is taken directly from corporate law, which has existed for many years. The idea is that the protective shield will be lifted and expose owners to personal liability if ever the corporate entity is determined to be a sham by the court.