Limited company: Difference between revisions
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== See also == | == See also == | ||
* [[Limited liability]] | * [[Limited liability]] | ||
* [[Public limited company]] | |||
* [[Unlimited company]] | * [[Unlimited company]] | ||
Revision as of 11:34, 20 July 2017
Abbreviation for Limited liability company.
In a limited liability company the liability of the members is restricted to a predefined amount.
In the case of a company limited by shares the members' liability is restricted to the amount, if any, unpaid on the shares they hold.
Almost all commercial companies are of this type.
In a company limited by guarantee the liability of the members is restricted to a predefined amount which the members guarantee to contribute (on the event of any winding up of the company).
