Limited Liability

Limited Liability in International Trade

Meaning of Limited Liability, according to the Dictionary of International Trade (Global Negotiator): A situation whereby the liability of a party within the company is limited to some extent. There are many forms of limited liability companies. For instance, corporations normally limit share holder liability to the amount invested in a business, while limited partnerships may hold only one or several designated partners personally liable yet limiting the liability of other partners. Most jurisdictions required that a business with limited liability indicate this by using a recognized symbol, such as Incorporated (Inc.), Limited (Ltd.) or Sociedad Anónima (S.A.).

Clauses Excluding or Limiting Liability

Find out, in this world legal encyclopedia, additional information relating to Clauses Excluding or Limiting Liability.