limited liability
B1CEFR level
22/100Rarity: fairly common
TechnicalRegister
The principle that a shareholder's financial responsibility for company debts is capped at the amount unpaid on their shares.
Limited liability protects the members' personal assets if the company becomes insolvent.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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