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The Difference Between Limited & Unlimited Liability ...

Jan 25, 2019 · The difference between limited and unlimited liability is significant for business owners. Limited liability means you don't face much personal financial risk for debts of your business.Unlimited liability means you are exposed to potential losses based on company obligations.…

What is unlimited liability company? definition and ...

unlimited liability company: Private firm (such as a sole proprietorship or general partnership) whose owner(s), partners, or stockholders accept personal and unlimited liability for its debts and obligations in return for avoiding double taxation of a limited company. Unlimited liability firms are exempt from filing their annual accounts with ...…