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The video tutorial on the Certificate of Organization and Docketing Statement explains that a Limited Liability Company (LLC) combines the liability protections of a corporation with the tax benefits of partnerships and sole proprietorships. To form an LLC, a Certificate of Organization must be filed with the Corporation Bureau, along with a 1-page Docketing Statement. This statement includes questions about the business entity type, location, name, a brief business description, fiscal year preference, and more. The video will provide guidance on completing the Docketing Statement. It's crucial to ensure that the desired business name is available, and the business must have a physical address rather than a PO Box.