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English definition of “limited company”

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limited company

noun [C]
 
 
LAW
a company, especially one in the UK, whose owners only have to pay part of the money they owe if the company fails financially: The new venture will give musicians the opportunity to form either a limited company or work as sole traders. →  Compare unlimited company →  See also company limited by guarantee , company limited by shares , limited liability company , LLC , sole trader , sole proprietorship , unlimited company
(Definition of limited company from the Cambridge Business English Dictionary © Cambridge University Press)
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