Business Law

Company Law - Definition and Meaning
The law relating to the formation and operation of companies, outlining the rights and obligations of directors and shareholders, limited liability, and informational requirements.
Limited Liability
The system by which shareholders in a company are not liable for its debts beyond the nominal value of their shares.
Receivership
The situation when a company defaults on its obligations, and a receiver is appointed to manage its assets to pay off creditors.