Definition of limited liability company in English English dictionary
{i} business or company organized in such a manner that its owners and shareholders are not personally liable for debts or other business liabilities (such as damages from lawsuits)
Companies are run by a board of directors who have responsibility to the Shareholders who invest or provide capital for the company A limited company is a separate legal entity It pays separate tax to the individual and the liability of any individual is limited to the investment that individual has in the company
A company registered under the Companies Acts The law regards it as a person just as a human being is a person It can own property, employ people make contracts, sue and be sued
A firm, usually associated with British registration, that is organized in such a way as to give its owners limited liability. a company in Britain whose owners only have to pay a limited amount if the company gets into debt public limited company
A company that is registered, has a memorandum of agreement and shareholders It trades as a separate legal entity and the liability of its shareholders is limited (compared to a sole trader or partnership)
Not an international business company May be a resident of the tax haven and is set up under a special company act with a simpler body of administrative laws
Turkish - English
Definition of limited liability company in Turkish English dictionary