The standard acceptable term of an LLC is 30 years. Dissolution is also likely when one of the members dies, the business goes bankrupt, or all members choose to dissolve the business. Some states allow continuity with majority or unanimous consent of the members. One of the important characteristics of the LLC is that the laws governing its formation differ from state to state. Hus, a firm that is operating in more than one state may be subject to different treatment. An analysis of these differences should be considered before choosing this form of organization.