limited company

(redirected from Limited liability companies)
Also found in: Dictionary, Thesaurus, Legal.
Related to Limited liability companies: partnership

Limited company

A form of business commonly used in the U.K. comparable to incorporation in the U.S.

Limited Company

In the United Kingdom, a company with limited liability amongst its owners; that is, shareholders who are not liable for more than their investment in case of insolvency. In other words, an owner of a limited company would lose the value of his/her investment if the company declares bankruptcy, but would not be held liable for other outstanding debts. A limited company is the most common corporation structure in the United Kingdom and is designated by "Ltd" after its name.

There are two types of limited companies. A limited company by guarantee has no shareholders but instead contains members who contribute a small amount to cover outstanding debts following a potential liquidation. This structure is common among British charities, and is used by the Financial Services Authority. A public limited company usually (but not always) trades publicly, and shareholders are only liable for the value of their individual investments. These companies are designated by "p.l.c." See also: Limited liability company, U.S. Corporation.

limited company (Ltd.)

A firm registered in such a manner as to give its owners limited liability. Limited companies are most often associated with British registration, much as incorporated firms are primarily associated with U.S. registration.

limited company (Ltd)

see JOINT STOCK COMPANY.
References in periodicals archive ?
Practice Management -- Limited Liability Companies Cindy Seipel West Publishing Co.
22, 2009, the regulation on private limited liability companies followed, setting standard forms of incorporation documents for this legal form also.
MANY BUSINESSES ARE CONSIDERING limited liability companies (LLCs) as a way to operate for both tax and liability reasons.
The American Institute of CPAs accounting standards executive committee (AcSEC) has issued guidance on accounting and reporting for limited liability companies (LLCs) and limited liability partnerships (LLPs).
What we've done," he said, "so you don't have the cross collateralization of the assets, is set up single asset limited liability companies.
He is chairman of the Corporation Law Committee of The Association of the Bar of the City of New York, is one of the principal draftsmen of the proposed New York Limited Liability Law pending in the New York legislature, and has written and lectured extensively on limited liability companies.
Many limited liability companies (LLCs) engage in interstate business, rather than restricting their operations to one state.
You can submit paperless Schedules K-1 (568) for limited liability companies as well.
As for the types of transfers the new law facilitates, he cites the conversion of a general partnership into a limited partnership, noting also that New York State may soon permit the formation of limited liability companies.
ASIF I and ASIF II are limited liability companies under the laws of the Cayman Islands.
Kleinberger (WG&L, 2005), comprehensively and analytically addresses the critical issues facing tax advisers on the formation, operation and dissolution of limited liability companies (LLCs) and other vehicles, such as limited liability partnerships and limited liability limited partnerships.

Full browser ?