有限责任制的优缺点
优点
1 鼓励投资
有限责任的最大优点在于能使股东预先确定其投资风险，即投资者的最大风险仅限于其出资额的损失.。这种能够减轻和分散投资风险的功能，无疑是对投资者利益的一种保障，从而起到鼓励投资的促进作用。否则，如果公司不采取有限责任制度，则很难吸引投资。
(1) Encouraging investment
The most advantage of limited liability rule is make the shockholders know the risk of investment beforehand.This rule can reduce or separate the risk of investment, which is actually a good safeguard to the investors. In this way , they can encourage the investment. If the company don’t adopt this rule, they can’t attract more investors.
2 促进资本流动
尽管此项投资风险的上限不会超出其投资额，但由于这把“双刃剑”与持有者的切身利益有着直接的、明确的联系。因此，在趋利避害动机促使下，股东们无不通过买进卖出行为来表示自己对资本效率的关切和对资源配置的看法，所以，有限责任制促进了资本的流动
Although the investor will not lose the money exceed which he put in, this is direct contact with their own interest. The stockholders will often buy or sell the stocks to show how they take care of the efficiency of the capital. So this can encourage the flow of capital.
(2) Encouraging the flow of capital
3 减少风险
市场竞争充满了风险，风险的大小通常与收益的多少成正比。有限责任制度能够减少和转移投资风险，一方面防止债权人直接向股东追索，从而招致众多的单个股东破产。另一方面，股东可以随意转让其股票，这就使投资风险能够伴随股票的买进和卖出而自由转移。
(3)reduce the risk
The competitive market is full of risk. The limited liability rule can reduce the risk. On the hand, which can prevent the creditor directly claim for stockholders lead more single stockholders bankruptcy. On the other hand, they can transfer the stocks at their please , so the risk also can transfer free with the transfer of stocks.
缺点
1 减少对债权人的保护
在公司因经营管理不善等原因造成亏损以致破产时，债权人却蒙受巨大的损失。然而股东却仅以其出资额对公司债务负有限责任，显然这与其享有的权利是不对称的。而债权人却可能因为有限责任制度在公司破产时而变得两手空空。所以，有限责任制注重了对股东的保护，却忽略了对债权人的保护。
When the company bankruptcy because of the ill management, creditor will afford large losing. But the stockholder only take the charge of the part he put in, so the creditors will get too less compare to they actually should have. The rule only pay more attention to prevent the stockholders but not the creditors.
Reduce the protection of creditor
2 给不法董事提供机会
董事可能利用公司的人格从事各种欺诈行为，隐匿财产，为自己谋取非法所得。在出现这种情况时，由于有限责任的存在，阻碍了债权人直接要求董事负责的请求。
The directors may use company’s capital to make the interest for
themselves. When in this situation,because of the limited liability, which become a block to creditors to claim for directors.
Give the chance to illeage directors
3 对侵权责任的规避
在现实生活中，有的人可能因为公司的侵权行为而受到损害。但是，由于有限责任的存在，使得这些受害人在遭受人身伤害或死亡的情况下，常常不可能获得合理的赔偿。它注重了对投资者的保护，而忽略了对广大消费者的保护。
In the true life, some people will lose much money because of the infringement of company. But they can’t get reasonable compensation under the rule of limited liability,which only protect the investors but not the consumers.
Ruduce the protection of consumer
Exceptions to the limited liability rule
In the real life ,some illegal businessman ,even know this business will lead lose much at first. But he only care the interest of himself, in the limited liability rule , he needn’t to afford the losing of this case. At the very start, he owns a illegal purpose to cheat the money, people have the right to point out his evil action. This is the exceptions to the limited
liability rule.