Final answer:
The characteristic that is not shared by a business corporation and an LLC is 'being the same as an LLC.' Corporations and LLCs both offer limited liability but differ in structure and legal requirements.
Step-by-step explanation:
The characteristic of a business corporation that is not shared with a Limited Liability Company (LLC) is being the same as an LLC. While both business structures provide limited liability to their owners, they have different features and legal requirements. A corporation, for instance, is a formal legal entity that exists separately from its owners and provides protection from liability.
Shareholders have limited liability for the company's debt but share in its profits and losses. Corporations can be private or public, with the ability to raise funds by selling stock or issuing bonds. On the other hand, an LLC provides a different structure, with characteristics of both partnerships and corporations, and is governed by state statutes. Key features of a corporation include legal personality, the ability to enter into contracts, sue and be sued, limited liability for the owners, and an unlimited life span.