limited liability
4
4.4
- noun
- /ˈlɪmɪtɪd laɪəˈbɪləti/
- Specialized
:
responsabilidad limitada
- Law firms are discovering that limited liability business structures can shield them from devastating malpractice awards and double taxation.
- limited liability company
- limited liability partnership
- limited liability corporation
So an LLC is a limited liability company, a single member LLC.
- So an LLC is a limited liability company, a single member LLC.
- So you want to set up these protective entities, corporations and LLCS to give you that limited liability protection.
- First of all, there are times when you want to own that within a business or a limited liability company.
- I should also add by the way, that the VLC was a limited liability corporation.
Examples
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In 1991, Texas became the first state to allow professional firms to organize as limited liability partnerships.
Academic text (2002) -
Some question whether limited liability partnerships, also known as LLPs, have holes of their own.
Academic text (2002) -
So an LLC is a limited liability company, a single member LLC.
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So that for the third time today is mention of the limited liability constraints.
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The most significant is actual authority for law firms to organize as limited liability entities.
Academic text (1994) -
Two approaches have been to organize the firm as a professional corporation or a limited liability corporation, making firm members shareholders.
Academic text (2002) -
Most frequently, they deal with limited liability corporations, S corporations, and family limited partnerships.
Blog text (4) -
As a result, there have been few opportunities for courts to consider the validity of limited liability partnerships for professional firms.
Academic text (2002) -
The new buyer was shielded by a limited-liability company, Janiro, based in Beverly Hills, Calif.
Blog text (18) -
Investing in a limited liability company protects your personal assets from business debts.
How Formal
- Specialized
4
4.4
∞
3.7
∞
1.0
161
2.9
117
1.0
Surface Forms
Morphology
The meaning is directly compositional: 'limited' (restricted in scope) modifies 'liability' (a legal/financial obligation), indicating the obligation is restricted in amount or scope. This adjectival modification is a transparent, cross-linguistically common legal concept (e.g. 'responsabilidad limitada'/'responsabilité limitée'), so a B1 learner who knows the constituents can infer the MWE's sense.
Etymology
Limited liability comes from a simple picture: limited means there is a clear cap and liability means what you must pay for a company's 'debts'. So it means each owner must pay 'only the money they invested', and their personal things stay protected if the business fails.