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Limited

corporate corporation liability

Restricted in duration, extent, or scope; confined.

Limited liability is the rule that the owners or shareholders of a corporation cannot usually be sued as individuals for corporate actions unless they are involved in FRAUD or criminal conduct.

Limited is also a designation following the name of a corporation that indicates its corporate and limited liability status; it is abbreviated Ltd. It is found most commonly after British and Canadian corporate names, although it is sometimes used in the United States.

Limited Liability Company - History, Formation, Structure, Operating Agreement, Membership Interests, Member Contributions, Liability, Records And Books [next] [back] Limitations of Actions

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