Limited-liability
Definition & Meaning
Part of speech adjective
Quick meaning: Limited-liability is an adjective meaning (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.
Meaning
(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.
Related Words
Related dictionary entries include incorporated, nonrecourse, close, lienholding, unititular, whole-life.
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Sources & Attribution
FreeDictionaryAPI.com / Wiktionary · Original source · CC BY-SA 4.0
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