In business, the term Ltd is commonly used to indicate a limited company, a type of company structure that limits the owner's liability. However, there are several synonyms for Ltd that businesses can use, including LLC (limited liability company), Inc (incorporated), Pvt Ltd (private limited), and Co Ltd (company limited). These terms are generally interchangeable, with the specific choice depending on the legal requirements in a particular jurisdiction. Whichever term is used, the main benefit of a limited company structure is that it safeguards the personal assets of the owners from any business-related debts or legal action.