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- Limited company
Company in which the liability of members or subscribers of the company is limited; affords shareholders of the company with "limited liability" if the company is unable to pay liabilities
In a lethal company, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. In a company limited by shares, the liability of members is limited to the unpaid value of shares. In a company limited by guarantee, the liability of owners is limited to such amount as the owner... Wikipedia
