Societe a Responsabilite Limitee

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Societe a Responsabilite Limitee

A company in which owners' risk is limited to the capital they contribute. That is, they cannot lose and they cannot be held responsible in court for losses above their individual contributions. Owners make corporate decisions by vote, but they may not transfer their portions of ownership without unanimous consent of the other owners. A SARL is a corporate form in Francophone countries, notably France, Switzerland, Lebanon and a few countries in North Africa. See also: Public limited company.
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