MLchartDataset catalogue

Limited liability

Term · Law · MLC-T-LAW-003055

A legal protection that shields an individual's personal assets from the debts or liabilities of a business entity. Owners or shareholders are only responsible for the amount of capital they have invested in the company, not for its overall financial obligations. This protection is a key feature of corporations, limited liability companies (LLCs), and limited partnerships.

Table 1. Record
IdentifierMLC-T-LAW-003055
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003055",
  "term": "Limited liability",
  "field": "Law",
  "definition": "A legal protection that shields an individual's personal assets from the debts or liabilities of a business entity. Owners or shareholders are only responsible for the amount of capital they have invested in the company, not for its overall financial obligations. This protection is a key feature of corporations, limited liability companies (LLCs), and limited partnerships.",
  "url": "https://mlchart.com/terminology/law/limited-liability/"
}

Record 3,011 of 5,441 in Law terminology (MLC-0107). Request the full dataset.