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Definition of limited liability noun from the Oxford Advanced Learner's Dictionary

limited liability

noun
 
/ˌlɪmɪtɪd laɪəˈbɪləti/
 
/ˌlɪmɪtɪd laɪəˈbɪləti/
[uncountable] (law)
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  1. (in the UK) the legal position by which the shareholders of a company only have to pay its debts up to the value of their shares
See limited liability in the Oxford Advanced American DictionarySee limited liability in the Oxford Learner's Dictionary of Academic English
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trait
noun
 
 
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