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limited liability

noun, adj — 2 senses

limited liability

nounalso spelled limited-liability
1

Business, Finance The liability of an owner or a partner of a company for no more capital than they have invested.

Derived terms
limited liability company
Related terms
no liability

limited-liability

adj
1

Law Of a business entity, having liability for legal claims that is limited to the assets of the entity itself, and which therefore does not reach the assets of the individual owners/investors of the company.

Entry derived from the Wiktionary, under licence CC BY-SA 4.0 — authors: page histories for limited liability and limited-liability.