Limited
/ˈlɪmɪtɪd/
Definitions
- (adj.) Restricted in extent, amount, or scope by law or agreement.
The company has limited liability under the law.
- (adj.) Designating a type of business entity whose owners have liability restricted to their investment.
A limited company shields its shareholders from personal liability.
Related terms
See also
Commentary
Common in corporate and contract law to distinguish extent of rights or responsibilities.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.