What Is Better Limited Or Unlimited Liability? Tip. Limited liability means the business owners’ liability for debts is restricted to the amount they put into the business. With unlimited liability, the business owner is personally responsible for any loss the business makes. Why is unlimited liability a good thing? Understanding Unlimited Liability It indicates that
What Does The Abbreviation LC Mean? Acronym Definition LC Letter of Credit LC Learning Center LC Louisiana College (Pineville, Louisiana) LC Lauren Conrad (actress) What does LC stand for in business? A limited company (LC) is a general term for a type of business organization wherein owners’ assets and income are separate and distinct from
Can You Sue A Limited Partnership? Can you sue a limited partnership? A limited partnership is considered to be a separate legal entity, and as such can sue, be sued, and own property. Is a limited partnership liable? A limited partnership (LP) exists when two or more partners go into business together, but the limited