A limited company is a limited liability company, and limited liability means that the debtor is liable for certain debts within the scope of property stipulated by law. Limited liability can be divided into human limited liability and material limited liability. According to the company law of our country, "company" in our country refers to limited liability companies and joint stock limited companies established in our country according to this law. Whether it is a limited company or a joint-stock company, their biggest feature is that shareholders' responsibility to the company is limited and limited by their capital contribution. That is to say, when the company's assets are insufficient to repay the debts owed, shareholders do not have to bear joint and several liability for repayment, that is, they do not need to pay debts for the company.
In fact, it can be clearly seen that a limited company is a limited liability company. Although a limited company also has the word limited, it is not a limited company, but a limited liability. This is also the normal state of most social development. If the company can't go bankrupt, it will demand compensation from all shareholders. If you require unlimited liability, you can consult a lawyer to help safeguard your legitimate rights and interests.
Legal basis:
Article 23 of People's Republic of China (PRC) Company Law The establishment of a limited liability company shall meet the following conditions: (1) The number of shareholders shall meet the quorum; (2) The capital contribution of shareholders reaches the minimum statutory capital; (3) Shareholders * * * agree to formulate the Articles of Association; (4) Having a company name and establishing an organization meeting the requirements of a limited liability company; (5) Having a company domicile.
Derivative problem:
What's the difference between state-owned enterprises and private enterprises? 1. State-owned enterprises are state units and private enterprises are private units. 2. State-owned enterprises will not fire people casually, unless it is a matter of principle, depending on the rules and regulations of the unit. Private enterprises will be fired if they are unable to bring benefits to the company. There is still a difference between these two points. 3. There is no workload for state-owned enterprises to go to work, which is relatively easy. Even if the arranged work is not completed, it will not cause any loss of salary. But private enterprises are not like this. If you can't finish the work, the company will consider your future development in the company, often work overtime, and the private enterprise will pay you as much as possible. The benefits of state-owned enterprises are quite numerous. In addition to the normal five insurances and one gold, some benefits will be given on holidays. But private enterprises do not have this kind of treatment. Some companies don't have five insurances and one gold, and they are also branches.