Limited liability

Limited liability

Limited exposure to lawsuits, usually refers to limiting financial exposure to the amount of interest the individual has in the corporation being sued.

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Part of Speech: adjective
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Industry/Domain: Legal services
Category: Regulations
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Related terms

limited liability

Legal services; Regulations

Limited exposure to lawsuits, usually refers to limiting financial exposure to the amount of interest the individual has in the corporation being sued.

limited liability

Law; Patent & trademark

Limited liability protects personal assets from forfeiture and therefore encourages people to invest in businesses that they might otherwise avoid.

limited liability

Economy; Economics

A type of liability that does not exceed the initial amount a person invested into a partnership.

limited liability

Financial services; General Finance

Limitation of loss to what has already been invested.

Limited Liability

Language; Encyclopedias

Liability on the part of the shareholders of a joint-stock company limited by the amount of their shares.

breach

Legal services; Regulations

violation of a law, obligation, tie, code or standard

en banc

Legal services; Regulations

When the entire court sits to hear a case; it tends to indicate a higher degree of importance.

petition

Legal services; Regulations

A formal request to the court in some court action, such as a divorce or probate case. Petition initiates the legal proceedings; in some states, such as Texas, a petition is a ...