Last modified on 30 June 2014, at 06:17

limited liability company

Wikipedia

EnglishEdit

NounEdit

limited liability company (plural limited liability companies)

  1. (law) A type or form of for-profit incorporated company where ownership is divided into shares, and where the governing rules are set forth in a contract entered into by all of the initial shareholders. The name derives from the fact that regardless of potential losses or even bankruptcy of the corporation, individual shareholders will bear a maximum liability of the price they paid for their shares.

SynonymsEdit

See alsoEdit

TranslationsEdit