(law) Abbreviation of liability.

(law) Of a business entity, having liability for legal claims that is limited to the assets of the entity itself, and which therefore does not reach the assets of the individual owners/investors of the company.

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

(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.

A limited liability company that is not a public corporation

(Australia, business, law) A form of limited liability that may be used by mining companies, under which the shareholders may pay a company debt by surrendering shares in lieu of money.

bound or obliged in law or equity; responsible; answerable. / subject; susceptible. / exposed to a certain contingency or causality, more or less probable.

An obligation, debt or responsibility owed to someone.

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.