American Heritage® Dictionary of the English Language, Fourth Edition
- n. The liability of a firm's owners for no more capital than they have invested in the business.
- n. finance The liability of an owner or a partner of a company for no more capital than they have invested.
GNU Webster's 1913
- n. See Limited company, under Limited.
- n. the liability of a firm's owners for no more than the capital they have invested in the firm
“The low-profit, limited liability corporation or L3C seeks to combine the features of a regular limited liability company with the socially beneficial aspects of a nonprofit.”
“Another example is the low-profit limited liability company, or L3C, which is a for-profit legal entity with the explicit purpose of engaging in socially beneficial activities.”
“The limited liability company (LLC) and the limited partnership (LP) are blessed with the charging-order rule.”
“Knox's idea was to plant forty fishing villages at spots twenty-five miles apart between the Mull of Cantyre and the Dornoch Firth at a cost of L2000 apiece, or at least as many of them as money could be obtained to start; and the scheme rose high in public favour when the parliamentary committee on Scotch Fisheries gave it a general recommendation in 1785, and suggested the incorporation of a limited liability company by Act of Parliament in order to carry it out.”
“That FINCO will take steps to float a limited liability company hereinafter referred to as the Company to carry on the business of producing and marketing wood charcoal in Sri Lanka.”
“Factories and workshops took the place of home industries; the small trader and the master-craftsman fell under the domination first of the big employer and later of the limited liability company.”
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