Traditional Culture Encyclopedia - Hotel franchise - What does limited liability hotel mean?

What does limited liability hotel mean?

Limited liability hotel refers to a system in which administrative personnel only bear partial responsibility for the benefits derived from their actions or the losses they may suffer during administrative management practices. The meaning of limited liability system, firstly, means that the company shall bear limited liability for its debts with all its legal person property. Second, when the company goes bankrupt, shareholders only bear limited liability for the company up to the amount of their capital contribution.