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What are limited liability companies?

What are limited liability companies? Here are some definitions.

Noun
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Both buyer and seller conducted the transaction anonymously through limited liability companies.
The act does not apply to limited liability companies, limited partnerships, or general partnerships.
Partnership interests or shares of limited liability companies are included in the broader term 'financial asset.
The Corps is partnering with private companies, usually limited liability companies, to build more and better housing for the same money.
Audit requirements apply to stock companies, limited liability companies, cooperatives, limited partnerships, associations and foundations.
In general, corporations, limited liability companies and limited partnerships must file with their state.

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