limited liability Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “limited liability” in the English Dictionary

"limited liability" in Business English

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limited liabilitynoun [U]

uk   us   LAW
a ​situation in which the ​owners or other ​shareholders of a ​company are not ​responsible for all of its ​debts if the ​companyfails: The ​bank can rely on ​limitedliability to ​protectemployees and ​shareholders from ​lawsuits.
(Definition of limited liability from the Cambridge Business English Dictionary © Cambridge University Press)
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