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English definition of “limited company”

limited company

noun [C]
 
 
LAW
a company, especially one in the UK, whose owners only have to pay part of the money they owe if the company fails financially: The new venture will give musicians the opportunity to form either a limited company or work as sole traders. → Compare unlimited company → See also company limited by guarantee, company limited by shares, limited liability company, LLC, sole trader, sole proprietorship, unlimited company
(Definition of limited company from the Cambridge Business English Dictionary © Cambridge University Press)
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