limited liability
Definition
Use limited liability in a sentence
“ When my brother's company went under, he did not lose any additional money personally because he had structured the company so that there was limited liability. ”
“ Since she had made a sizable capital investment, Anna was glad she had limited liability in her partner Stacy's bakery when the small business failed after the 2008 economic collapse. ”
“ The limited liability nature of the partnership ensured that each person would be protected from losing their home or personal assets. ”