(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.

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

plural of limited liability

(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.

plural of limited liability 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.

A limited liability company that is not a public corporation

plural of public limited liability company

plural of private limited liability company