LIMITED LIABILITY

Pronunciation (US):

(GB):

 I. (noun) 

Sense 1

Meaning:

The liability of a firm's owners for no more than the capital they have invested in the firm

Classified under:

Nouns denoting possession and transfer of possession

Hypernyms ("limited liability" is a kind of...):

financial obligation; indebtedness; liability (an obligation to pay money to another party)

Credits