"ООО" stands for "Общество с ограниченной ответственностью," which translates to "Limited Liability Company" in English. It is a popular form of business organization in Russia and other post-Soviet countries. This structure allows owners to limit their personal liability for the company's debts, meaning their personal assets are generally protected if the business faces financial difficulties. In an ООО, the ownership is divided into shares, and the number of participants can vary. This type of company is often chosen by small and medium-sized enterprises due to its relatively simple registration process and flexible management structure, making it an attractive option for entrepreneurs.