Louisiana Name Reservation-Corporation, Limited Liability Company, L3C and Partnership are all types of business entities incorporated in Louisiana. A Louisiana Name Reservation is an official request to reserve a unique name for a business entity in the state. The name must be distinguishable from other entities in the state. A Limited Liability Company (LLC) is a type of business entity that offers limited liability protection to its owners. LCS offer a flexible structure and are taxed as either a pass-through entity or a corporation, depending on the number of members. An L3C is a type of Limited Liability Company (LLC) that is specifically designed for social enterprise. The L3C is designed to be a “low-profit” venture that is focused on achieving a social good. A Partnership is a type of business entity in which two or more people join together to conduct business. Partnerships can be formed in Louisiana as a general partnership, limited partnership, or limited liability partnership. Each partner shares in the profits and losses of the business.