A business that is independent of its owners is a

A business that is independent of its owners is a "limited liability company". A limited liability company (LLC) is a legal entity that is separate from its owners. This means that the business can enter into contracts, incur debts, and engage in other business activities in its own name, without the personal liability of the owners. The owners of an LLC are called members, and their liability is limited to their investment in the company. This means that their personal assets are protected from the company's debts and liabilities. LLCs are a popular choice of business structure because they offer the liability protection of a corporation and the tax benefits of a partnership.