Limited company: Difference between revisions
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Abbreviation for Limited liability company. | Abbreviation for Limited liability company. | ||
In a limited liability company the liability of the members is restricted to a predefined amount. | In a limited liability company the liability of the members is restricted to a predefined amount. | ||
Revision as of 08:23, 12 December 2014
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).
