Limited Liability Entity
/ˈlɪmɪtɪd lɪəˈbɪləti ˈɛntɪti/
Definitions
- (n.) A business structure that limits owners' personal liability for debts and obligations of the entity.
A limited liability entity protects its members from being personally responsible for company debts.
Forms
- limited liability entity
- limited liability entities
Related terms
See also
Commentary
The term broadly covers entity types like LLCs and limited partnerships, emphasizing liability protection as a central feature.
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.