Fiducia TogetherLimitation of liability
Capping what you could owe if things go wrong. The most important clause in most contracts.
Business A to Z
Every trade has words it uses without explaining. In business the cost of not knowing one is real: some of them are ordinary jargon and some of them are a decision that can take a house.
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.
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500 terms, showing 261–270 (page 27 of 50).
L
Limitation periods
How long you have to bring a claim before the right disappears.
Limited company
Also called Ltd, Private limited company, Company
A separate legal person that can own things, owe money and be sued in its own right, distinct from the people who own it.
Limited liability
Shareholders' losses are capped at what they put in — with several important exceptions that owners routinely sign away.
Liquidated damages
A pre-agreed sum payable for delay. Enforceable if it is a genuine estimate.
Local SEO
Being found by people nearby. The highest-return marketing for most local businesses.
Logistics
Moving things from where they are to where they need to be, at a cost you planned.
Lone working
Staff working alone, and the duty to keep them safe.
Loyalty schemes
Rewarding repeat custom. Data as much as discount.
M
Make or buy
Producing something yourself or purchasing it. A recurring decision, not a permanent one.
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