Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “limited liability”

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)
What is the pronunciation of limited liability?
Add Cambridge dictionaries to your browser to your website

More Business English definitions for “limited liability”

Word of the Day

bitter

a type of dark brown beer with a bitter taste

Word of the Day

Blog

Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More