Asked in Business LawFederal LawsLaw School
What does LTD stand for in law firms?
February 01, 2011 9:27AM
The abbreviation 'Ltd' stands for 'limited'. This signifies that a firm has limited liability; that is, the owners (shareholders) are not personally liable for any more than their investment should the firm fail.
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# What does "CC" stand for? In South African law "CC" stands for "Close Corporation", a registered juristic entity much like a simplified company. # What does "PTY" stand for? "PTY", usually used in conjunction with "Ltd", thus "(Pty) Ltd", stands for "(Proprietary)". "PTY" representing "Proprietary" means "private ownership". This illustrates one of the main features of PTY LTD Companies: that is, their shareholders are not publically declared, only their directors. Thus the ownership is private. # What does "Ltd" stand for? "Ltd" as used in the designation of a private or public company, for example, either "Bilkovo (Pty) Ltd" or "Bilkovo Ltd", stands for "Limited" and refers to the limitation on the liability of company shareholders and directors.
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