However, Lewis Preston, for the club said there was an "ongoing dispute" about the extent of the liability.

BBC: Llanelli AFC fends off third 'winding up' in tax dispute

The foregoing limitation of liability shall not apply to the extent that any liability arises from the gross negligence or willful misconduct of the Investment Consultant, its employees, affiliates, agents or contractors or from bodily injury, death of any person, or damage to any real or tangible personal property.

FORBES: Actuarial Limitations of Liability? (LOL) Laugh Out Loud! (December 1, 2002 )

The question is, to what extent do product liability laws apply to trademark licensors that are not manufacturers or sellers of defective products?

FORBES: Are Trademark Licensors Liable For Injuries Caused By Their Licensees' Defective Products?

Moreover, ownership of unincorporated firms, which carries unlimited liability, was much more tightly linked to the exemption level than was the extent of corporate ownership.

ECONOMIST: Economics focus