LLC members do not have what kind of liability with third parties?

Limited Liability Companies (LLCs) are designed to provide their members with protection against personal liability for the debts and obligations of the business. This means that if an LLC encounters financial trouble or faces legal claims, the members typically do not risk their personal assets to satisfy the company’s liabilities. The correct choice highlights that members of an LLC do not have personal liability with respect to third parties, signifying that their financial exposure is limited to their investment in the company.

In contrast, shared liability, corporate liability, and joint liability relate to other business structures or liability arrangements. Shared liability may imply responsibilities that are shared among members, usually found in partnerships, while corporate liability pertains to corporations and how they handle obligations. Joint liability involves multiple parties being held responsible together for a debt or obligation. Therefore, while LLCs provide a shield against personal liability for their members, the other forms of liability mentioned are not applicable in the context of LLC member responsibilities.