Found 2 items, similar to limited liability.
English → English (WordNet) Definition: limited liability limited liability n : the liability of a firm's owners for no more than the capital they have invested in the firm
English → English (gcide) Definition: Limited liability Liability \Li`a*bil"i*ty\ (l[imac]`[.a]*b[i^]l"[i^]*t[y^]), n.; pl. Liabilities (-t[i^]z). [1913 Webster] 1. The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law. [1913 Webster] 2. That which one is under obligation to pay, or for which one is liable. Specifically, in the pl., the sum of one's pecuniary obligations; -- opposed to assets. [1913 Webster] Limited liability. See Limited company, under Limited. [1913 Webster]