ALL meanings of limited liability company
lim·it·ed li·a·bil·i·ty com·pa·ny
L l - noun 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. 0
- noun limited liability company a company which operates with limited liability 0