Final answer:
LLCs offer a flexible structure without the formalities of corporations, which are required to hold meetings, keep minutes, and pass resolutions.
Step-by-step explanation:
LLCs are flexible, simple to run, and do not require the members to hold meetings, keep minutes, or make resolutions, all of which are necessary in corporations. Unlike limited liability companies (LLCs), which can be formed with fewer formalities and record-keeping requirements, corporations have more stringent regulatory requirements. They must adhere to corporate governance structures that include holding regular meetings, maintaining minutes of those meetings, and passing corporate resolutions. This formal structure provides a clear record of business decisions and helps ensure that all shareholders' interests are considered. It also satisfies regulatory and legal mandates that apply to corporations.