Limited liability means a person's financial liability is limited to a certain amount. If a company with limited liability is sued, then the plaintiffs are suing that company, not the owners or investors. Administrators of small companies with limited liability are required to give personal guarantees of the businesses debts to those lending to the company. They will beheld accountable for those debts if the company cannot pay, although the shareholders will not. A shareholder is not actually responsible for any of the company's debts, other than the value of his investment in that company. For continuing limited liability assistance, please contact a lawyer.