a company in which the shareholders cannot be assessed for debts of the company beyond the sum they still have invested in the company.
Origin of limited company
First recorded in 1850–55
Also called lim·it·ed-li·a·bil·i·ty com·pany [lim-i-tid-lahy-uh-bil-i-tee] /ˈlɪm ɪ tɪdˌlaɪ əˈbɪl ɪ ti/.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British a company whose owners enjoy limited liability for the company's debts and losses
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012