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LIMITED LIABILITY: A condition in which owners are not personally held responsible for the debts of by a firm. Corporations are the main form of business in which owners have limited liability. The primary benefit of limited liability is that it makes it possible for a business to accumulate large amounts of productive resources that lets it take advantage of large scale production.

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GRAY SKITTERY
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Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for broken fingernail clippers.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
"Those who are blessed with the most talent don't necessarily outperform everyone else. It's the people with follow-through who excel. "

-- Mary Kay Ash, May Kay Cosmetics founder

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Indirect Least Squares, International Labor Standards
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