Meaning of “unlimited liability” in the English Dictionary

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"unlimited liability" in Business English

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unlimited liabilitynoun [ U ]

uk us LAW, FINANCE

a situation in which the shareholders of a company are responsible for all of its debts if the company fails financially:

unlimited liability for sth Partners have unlimited liability for the firm's debts.

(Definition of “unlimited liability” from the Cambridge Business English Dictionary © Cambridge University Press)