company liability
[ˈkʌmpəni laɪˈæbɪləti]
nounpl: company liabilities
responsabilidade da empresa
1. Legal or financial obligation that a company is responsible for, including debts, claims, or damages
The company liability for the product defect was estimated at $5 million.
A responsabilidade da empresa pelo defeito do produto foi estimada em 5 milhões de dólares.
2. Financial obligation appearing on a company's balance sheet representing amounts owed to creditors
Current company liabilities include accounts payable and short-term loans.
As responsabilidades atuais da empresa incluem contas a pagar e empréstimos de curto prazo.
3. Legal responsibility of a business entity for losses, injuries, or damages caused by its operations or negligence
Company liability insurance protects the business from lawsuits and claims.
O seguro de responsabilidade da empresa protege o negócio contra processos judiciais e reclamações.
In Brazil, 'responsabilidade da empresa' is the primary term used in legal documents and contracts, while 'passivo' is preferred in accounting statements following IFRS standards. The concept is central to Brazilian corporate law and is regulated by the Commercial Code (Código Comercial) and Tax Code (Código Tributário Nacional). Companies must disclose liabilities in their financial statements and are subject to strict liability rules in cases of consumer protection and environmental damage.
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