Any insurance against a potential loss due to the insured's liability for injury or damage to others.

(finance) The liability of an owner or a partner of a company for no more capital than they have invested.

plural of liability insurance

(law) A standard of legal liability by which a person can be found liable regardless of intent, fault or negligence.

(accounting) A liability or financial obligation which will come due in the near-term (often within one year).

(law) a legal doctrine that allows a plaintiff to shift the burden of proving causation of her injury to multiple defendants, even though only one of them could have been responsible

plural of limited liability company

(law) A type or form of for-profit incorporated company where ownership is divided into shares, and where the governing rules are set forth in a contract entered into by all of the initial shareholders. The name derives from the fact that regardless of potential losses or even bankruptcy of the corporation, individual shareholders will bear a maximum liability of the price they paid for their shares.

(Britain, law) the legal requirement for homeowners to pay for their local church's repairs

A type or form of for-profit incorporated company where ownership is divided into shares that are publicly tradeable usually in a stock exchange.