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Moneyextra.com Dictionary

Limited Liability

Shareholders are not liable for the debts of the company over and above the money they have subscribed through the purchase of the companys shares. This is known as limited liability.

Liability may also be limited by guarantee - in which shareholders guarantee to cover a set amount of potential losses. This is much rarer.

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2009-02-17 00:00:00 © Moneyextra.com