Which of the following describes an individual or organization that owns shares in a limited liability company?

The term that best describes an individual or organization that owns shares in a limited liability company is "shareholder." A shareholder holds equity in the company through ownership of shares, which entitles them to a portion of the company’s profits, usually in the form of dividends, as well as a say in certain company decisions, typically exercised through voting rights at shareholder meetings.

This distinction is significant because limited liability companies (LLCs) and corporations are structured to allow shareholders to invest in the business without risking personal assets beyond their investment in shares. Directors are often appointed to operate and manage the company’s affairs but do not necessarily own shares. Partners typically refer to individuals in a partnership, which is a different business structure. While the term "owner" is broad and can apply to shareholders, it does not specifically denote the legal ownership based on shareholding in a limited liability context.