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Video shows what limited liability company means. A type or form of for-profit incorporated company where ownership is divided into shares, and where the governing rules are set forth in a contract entered into by all of the initial shareholders. The name derives from the fact that regardless of potential losses or even bankruptcy of the corporation, individual shareholders will bear a maximum liability of the price they paid for their shares.. limited liability company synonyms: LLC, Ltd. limited liability company pronunciation. How to pronounce, definition by Wiktionary dictionary. limited liability company meaning. Powered by MaryTTS
