Limited liability company (LC) is a general term for a type of business organization in which the assets and income of the owners are separate and distinct from the assets and income of the company; known as limited liability.
Because of this, the potential losses of owners are limited to what they have invested, and personal assets and incomes are not limited.
There are several varieties of limited liability companies around the world followed by standard abbreviations including Ltd., PLC, LLC and AG, just to name a few.
A franchise is a business in which the owner licenses his activities - along with his products, branding and knowledge - in exchange for a franchise fee.
Ltd. is the standard shorthand for “limited”, a form of corporate structure available in countries including the UK, Ireland and Canada, and appears as a suffix after the company name.
A strategic alliance is an agreement between two companies that have decided to share resources for the implementation of a certain mutually beneficial project.