company limited by guarantee ˌcompany ˌlimited by guaranˈtee noun companies limited by guarantee PLURALFORM [countable]
LAW FINANCE a company in which each shareholder is responsible for paying debts up to a certain amount if the company goes bankrupt
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company limited by guarantee UK US noun [C] (plural companies limited by guarantee)
► LAW a company that does not raise money from shareholders but that has members who promise to give a particular amount of money to help pay the company's debts if it fails
Financial and business terms. 2012.