limited liability 
noun [mass noun] British
The condition by which shareholders are legally responsible for the debts of a company only to the extent of the nominal value of their shares.The new limited-liability laws made limited liability mandatory for all corporations....
- The company's separate legal personality is a general feature of its legal status and is not confined to the areas of limited liability and transferable shares.
- Owner enjoys limited liability for business debts and fringe benefits are deductible as business expenses.
- monosiphonic
- monosiphonous
- monoski
- monoskier
- monoskiing
- monosodic
- monosodium glutamate
- monosomatic
- monosome
- monosomic
- monosomy
- monosound
- monospaced
- monospecific
- monospecificity
- monosperm
- monospermal
- monospermic
- monospermous
- monospermy
- monospherical
- monosporangiate
- monosporangium
- monospore
- monosporidial