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To sell or transfer your LLC, you can transfer membership to another individual, a living trust, an asset protection trust, or another company. An LLC member is similar to a shareholder in a corporation, signifying ownership, while a manager is akin to a CEO, responsible for running the business. It’s important to note that the member and manager can be different individuals; one does not need to be a member to act as a manager. In a previous video, the process of completing an LLC membership certificate was discussed, and this video will continue that discussion by focusing on the steps necessary for transferring ownership or selling your LLC.