An LLC may be set up by a single person, by multiple people, or may be owned by a combination of individuals and entities. In some cases, the LLC owners wish to take on additional partners or offer equity in the business to additional investors. It is important to note that the process is not the same for members who wish to transfer their existing membership in the LLC to a family member, another partner, or business entity. In some instances, the LLC members may wish to reward an employee who has been particularly helpful to them by offering them an equity position in the company, which also precipitates a change to the LLC membership.
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