English

Noun

limited liability company ‎(plural limited liability companies)

1. (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.

Synonyms

• LLC, Ltd.

See also

• limited company

Translations