Limited company

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Revision as of 22:51, 11 December 2014 by imported>Brianlenoach@hotmail.co.uk
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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).


See also