limited company
n. (Abbr. Ltd. or Ld.)
A firm, usually associated with British registration, that is organized in such a way as to give its owners limited liability.
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A firm, usually associated with British registration, that is organized in such a way as to give its owners limited liability.
Form of business most common in Great Britain, where registration under the Companies Act is comparable to incorporation under state law in the United States. It is abbreviated Ltd. Or PLC.
The noun has one meaning:
Meaning #1:
(British) a company that is organized to give its owners limited liability
Synonyms: Ltd., Ld.
| Companies law |
|---|
| Basic forms: |
| Sole proprietorship |
| Partnership (General · Limited · LLP) |
| Corporation |
| Cooperative |
| United States: |
| Business trust · LLC
· LLLP Series LLC Delaware corporation Nevada corporation |
| United Kingdom / Commonwealth / Ireland: |
| Limited company (By shares · By guarantee) (Public · Proprietary) Community interest company |
| Civil law countries: |
| AB · AG · ANS · A/S · AS |
| K.K. · N.V. · OY · S.A. · GmbH |
| European Company Statute |
| Doctrines |
| Corporate governance |
| Limited liability · Ultra vires |
| Business judgment rule |
| Internal affairs doctrine |
| De facto corporation and corporation by estoppel |
| Piercing the corporate veil |
| Rochdale Principles |
| Related areas of law |
| Contract · Civil procedure |
A limited company in the United Kingdom is a corporation whose liability is limited by law. There are three main types of limited companies which are set up by the Memorandum of Association & Articles of Association:
As a shareholder in a limited company, if it were to become insolvent (equivalent to bankruptcy in the US) you would only be liable to contribute the amount remaining unpaid on the shares (usually zero, as most shares are issued fully paid). 'Paid' here relates to the amount paid to the company for the shares on first issue, and shouldn't be confused with amounts paid by one shareholder to another to transfer ownership of shares between them. Being a shareholder means you have limited liability.
A limited company can be registered in England and Wales, Scotland or Northern Ireland. The registration of companies in Great Britain (England, Scotland and Wales) is done through Companies House. The registration of companies in Northern Ireland is done through the Department of Enterprise, Trade and Investment.
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![]() | Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2007. Published by Houghton Mifflin Company. All rights reserved. Read more | |
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