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- DictionaryLimited liability
noun
- 1. the condition by which shareholders are legally responsible for the debts of a company only to the extent of the nominal value of their shares. British
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- Limited liability
Business structure where shareholders cannot owe more than their stake in a venture
Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or joint venture. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets of the company, not the assets of its shareholders or ot... Wikipedia
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