limited liability Meaning in Cambridge Business English Dictionary
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Meaning of "limited liability" - Business English Dictionary

limited liability

noun [U]
 
 
LAW
a situation in which the owners or other shareholders of a company are not responsible for all of its debts if the company fails: The bank can rely on limited liability to protect employees and shareholders from lawsuits.
→  Compare unlimited liability
(Definition of limited liability from the Cambridge Business English Dictionary © Cambridge University Press)
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