Not necessarily. The decision to incorporate or choose to set up another type of business structure depends on your individual needs. Just because your friend set up an LLC, doesn’t mean you should.

Neither is better, or worse, for that matter. The question to consider is which one is really right for you. You won’t know that answer until you spend some time talking with an attorney and learning about the strengths and weaknesses of each type of business entity.

A manager is someone who runs the company, but isn’t necessarily an owner. A member is an owner. A member can be a manager, but doesn’t have to be.