Limited Liability - Terminology - Business
The type of investment
in which a partner or / investor cannot
lose more than the amount invested.
Thus, the investor or /
partner is not personally responsible for the debts & obligations of
the firm in the event that these are not
fulfilled.
Many entrepreneurs
create limited liability companies so they are not individually held
responsible in the event of the company is sued.
Source:
InvestorWords.com
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