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The single-member limited liability company is a powerful tool in structuring both simple and complex business relationships. In its simplest form, a sole proprietorship can be structured as a single-member limited liability company to protect the proprietor from liability while maintaining the simple tax and operational flexibility inherent in a sole proprietorship. In more complex business structures, assets or business operations can be segregated into separate, single-member LLCs to compartmentalize risk and build liability firewalls.