Wiktionary
limited-liability
a. (context legal English) Of a business entity, having liability for legal claims that is limited to the assets of the entity itself, and which therefore does not reach the assets of the individual owners/investors of the company.
Usage examples of "limited-liability".
Yemen is one of the few countries to implement traditional Sunni shari'a law and a limited-liability company scam at the same time.
A Pirie became a limited-liability company in 1882, merged with another firm in 1922, and went out of business at some point in the 1950s.