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English definition of “unlimited company”

unlimited company

noun [C]
 
 
LAW, FINANCE
a company whose shareholders will have to use their money or property to pay the company's debts if it fails financially: So long as the company is solvent, the shareholders of an unlimited company need have no dealings with its creditors. →  Compare limited company
(Definition of unlimited company from the Cambridge Business English Dictionary © Cambridge University Press)
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