The meaning of LIMITED LIABILITY is liability (as of a stockholder or shipowner) limited by statute or treaty.
management duties must be equally divided. In terms of liability, LLCs protect members from personal liability for debts or claims on the business. With an LLP, a partner is not liable for another partner’
Also, if you form a limited liability partnership, or open a franchise (特许经营权), these are usually defined as companies as well. If you are not sure of the legal status of your business, you can contact a business solicitor for legal advice.Within a company a board of directors, ...
From Longman Business Dictionaryˌlimited liaˈbility[uncountable]when theownersof a limitedliabilitycompany are only responsible for their company’s debts up to acertainamount if it goes out of business, and do not have toselltheirpersonalassetstorepaythese debtsWhen he founded the company, he...
: a partnership in which the partnership is liable as an entity for debts and obligations and the partners are not liable personally Examples of limited liability partnership in a Sentence Recent Examples on the Web Examples are automatically compiled from online sources to show current usage. ...
Limited liability companies (LLC) are defined as a type of business structure where owners of the LLC are called “members” and are partners in a business entity with all the protection of a corporation plus the ability to pass through any business profits and losses to their personal income...
business-related lawsuit. Partnerships andsole proprietorshipsare particularly vulnerable to exorbitant expenses and are consequently in the greatest need of this type of insurance coverage. Even under the structure of alimited liability corporation(LLC), an owner may still be exposed to personal risk....
More results limited liability company See all results Pictures of the day What are these? Click on the pictures to check. Explore topics Compounds Banking Army Business management See all topics Word of the day retiring someone who is retiring does not want to be with other people, espe...
Corporations are one of the only business structures that have limited liability and protect owners’ personal assets. This is because the corporation is legally recognized as a separate entity than its shareholders. Thus, if someone tries to sue the company for damages, they will not be able to...
After all, what is Government but a limited liability company for the governing of the nation? From Project Gutenberg In 1880 the business was turned into a limited liability company. From Project Gutenberg The principle of limited liability having been once adopted by the legislature, justice requ...