limited company 
(also limited liability company)
noun British
A private company whose owners are legally responsible for its debts only to the extent of the amount of capital they invested. See also public limited company.Public limited companies and large private companies will also require an audit committee, comprising two members of the board, neither of whom can be a chairman or a recent employee of the company....
- The respondents are a private limited company engaged in the development and operation of petrol service stations.
- Unless the business is formed as a corporation or a limited liability company, it will be a sole-proprietorship by default.