limited liability company

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limited liability company

n. Abbr. LLC
A company managed by members or elected managers, like a partnership, but with the liability of the members limited to the amount of capital they have invested in the business.
References in periodicals archive ?
Furthermore, the new rule stipulates that a partner of a limited-liability company cannot be a partner in another limited-liability company.
DCR) has reaffirmed the ratings for Chrysler Financial Corporation (CFC) following an evaluation of CFC's plan to convert from a corporation to a limited-liability company.
While this isn't a likely picture for most companies, you should be aware that the limited-liability company and limited-liability partnership structures may become a bigger factor for your company during the next few years.

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