> I first saw this when I was stationed in England. It's an abbreviation for Limited Liability Corporation. Anyone up on corporate law want to shed a little more light on this?

A Limited Liability Company (not properly corporation, though that's very commonly used) is basically a business model that's halfway between a partnership and a corporation. In a partnership, the proprietors are each personally responsible for any debts the business accrues, whereas the owners of a corporation are not. A limited liability company's primary defining feature - the thing that sets it apart from a normal partnership - is that it gives that immunity to personal debt responsibility, the tradeoff being substantial additional paperwork.