Examlex
Explain what is meant by limited liability related to corporations.
Tort Liability
Legal responsibility arising from civil wrongs not based on contractual obligations but causing harm or loss to another person.
Professional Status
Recognition or standing of an individual based on their occupation, qualifications, and experience in a professional field.
Recognized Profession
Refers to occupations that are formally acknowledged and regulated by legal or professional bodies.
Emerging Profession
A new or developing field of work that is becoming recognized as a specialized area of practice or expertise.
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