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Limited Liability Definition - investopedia.com
Limited liability is a type of legal structure for an organization where a corporate loss will not exceed the amount invested in a partnership or limited liability company (LLC). In other words,...
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Limited Liability Company (LLC) | Internal Revenue Service
Mar 16, 2021 · A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, you should check with your state if you are interested in starting a Limited Liability Company. Owners of an LLC are called members.
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Limited liability | Definition of Limited liability at ...
a liability restricted by law or contract, as the liability of owners of shares in a corporation or limited company, or that of a special partner.
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Limited Liability | Wex | US Law | LII / Legal Information ...
Definition An important characteristic of corporations and other business organizations like the Limited Liability Company (LLC), is that investor liability is limited to the extent of their investment. That is, if the company loses a lawsuit or has other debt, the judgment is against the company, and not its owners, or shareholders.
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limited liability | Definition & Facts | Britannica
Limited liability, condition under which the losses that owners (shareholders) of a business firm may incur are limited to the amount of capital invested by them in the business and do not extend to their personal assets. Acceptance of this principle by business enterprises and governments was a vital factor in the development of large-scale industry, because it enabled business concerns to mobilize large …
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Limited liability - Wikipedia
Limited liability is a legal status where a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or partnership. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets of the company, not the assets of its shareholders or other investors.
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What is an LLC? | LLC Pros and Cons | Nolo
An LLC, or Limited Liability Company, combines the best parts of corporations, sole proprietorships, and partnerships into one business entity offering owners liability protection, flexible management structure, and certain tax advantages.
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Limited Liability Company (LLC) Definition
A limited liability company (LLC) is a business structure in the United States whereby the owners are not personally liable for the company's debts or liabilities. Limited liability companies are...
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Limited Liability Company: What Is It?
Sep 28, 2020 · A limited liability company is a type of business structure that someone can choose when they're starting a business. This type of structure protects most of an owner's personal assets, and the business's income is passed through to owners' personal income.
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