Meaning of limited company

lim'ited com'pany

Pronunciation: (lim'i-tid-lī"u-bil'i-tē). [key]
— Brit. Brit.
  1. a company in which the shareholders cannot be assessed for debts of the company beyond the sum they still have invested in the company. Also called
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.