Limited company: Difference between revisions
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imported>Doug Williamson (Added link to Public limited company.) |
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* [[Public limited company]] | * [[Public limited company]] | ||
* [[Unlimited company]] | * [[Unlimited company]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Compliance_and_audit]] | |||
Revision as of 11:03, 11 April 2018
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).
