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limited liability definition ap world history Bnb XRP aave Bonk coinbase futures litecoin futures cardano futures

What is a limited liability company?

They write new content and verify and edit content received from contributors. limited liability, condition under which the losses that owners (shareholders) of a business firm may incur are limited to the amount of capital invested by them in the business and do not extend to their personal assets.

When did limited liability start?

In Period I—the nascent corporate economy featuring the first joint-stock corporations in 1550–1600, until around 1800 – there was no notion of the attribute of limited liability and no actual manifestation of it as such.

When did limited liability become a corporate attribute?

My argument is that it was only around 1800 that limited liability became a separate corporate attribute, distinct from legal personality, and that limited liability in the modern sense became a uniform attribute of all corporations only in the 20th century.

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