LLC vs. Partnership The principal difference between a partnership and an LLC is an LLC separates the business assets with the company from the non-public assets from the homeowners, insulating the entrepreneurs through the LLC's debts and liabilities. "[six] Furthermore, ownership within an LLC is represented by a "membership interest" https://followbookmarks.com/story17235102/not-known-factual-statements-about-form-a-limited-liability-company