The phrase denotes an entity, specifically a business, operating under a specific legal structure, with “Limited” often indicating a status of limited liability for its owners or shareholders. Such organizations are typically registered legal persons, capable of entering into contracts, owning property, and being held liable for their debts and obligations separate from the individuals who own or manage them. The other components of the name likely differentiate it from other similar entities.
This type of corporate structure offers advantages such as protecting personal assets from business debts, facilitating investment by issuing shares, and potentially providing a longer lifespan than sole proprietorships or partnerships. Historically, the rise of these entities facilitated economic growth by allowing for the pooling of capital and the undertaking of larger, more complex ventures.