The Collaborative International Dictionary of English v.0.48:

Limited \Lim"it*ed\ (l[i^]m"[i^]t*[e^]d), a.
   Confined within limits; narrow; circumscribed; restricted;
   as, our views of nature are very limited.
   [1913 Webster]

   Limited company, a company in which the liability of each
      shareholder is limited by the number of shares he has
      taken, so that he can not be called on to contribute
      beyond the amount of his shares. [Eng.] --Mozley & W.
      [1913 Webster]

WordNet (r) 3.0 (2006):

limited company
    n 1: a company that is organized to give its owners limited
         liability [syn: limited company, Ltd., Ld.]