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Rarelimited liability company
The correct spelling is limited liability company.
How to pronounce limited liability company
noun
Say it like: Lim-ite-d l-iab-ili-tee- co-mpa-nee
The correct spelling is limited liability company. A type or form of for-profit incorporated company where ownership is divided into shares, and where the governing rules are set forth in a contract entered into by all of the in…
Usage Examples
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Definition
noun
- 1.A type or form of for-profit incorporated company where ownership is divided into shares, and where the governing rules are set forth in a contract entered into by all of the initial shareholders. The name derives from the fact that regardless of potential losses or even bankruptcy of the corporation, individual shareholders will bear a maximum liability of the price they paid for their shares.
Similar words
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