1. A business structure where the liability of partners is limited to their capital contribution, and the company has its own legal personality separate from its members.
They established a limited liability company to start their restaurant business.
Eles constituíram uma sociedade limitada para iniciar seu negócio de restaurante.
2. A type of commercial partnership where partners are not personally responsible for the company's debts beyond their investment.
The limited liability company protected the shareholders from personal bankruptcy.
A sociedade limitada protegeu os sócios de falência pessoal.