what is a limited company lc 
a limited company lc is a general form of incorporation that limits the amount of liability undertaken by the company s shareholders it refers to a legal structure that ensures that the liability of company members or subscribers is limited to their stake in the company by way of investments or commitments in a legal sense a limited company is a person the naming convention for this type of corporate structure is commonly used in the united kingdom where a firm s name is followed by the abbreviated ltd in the united states limited companies come in several forms including the limited liability corporation llc 