limited liability company definition

  • noun:
    • a sort or type of for-profit included business where ownership is divided into shares, and where in fact the governing rules are established in a contract entered into by all the preliminary shareholders. Title derives from the undeniable fact that no matter prospective losses and even personal bankruptcy associated with company, specific investors will keep a maximum liability associated with price they covered their stocks.

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  • Synonym for "limited liability company"
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