Vicarious liability means that:

Vicarious liability refers to the legal principle where one party can be held liable for the negligent actions or wrongful conduct of another party, typically in the context of employer-employee relationships. This concept is grounded in the idea that an employer may be held responsible for the actions of their employees when those actions occur in the course of their employment.

In this scenario, the third party, usually the employer, is accountable for the conduct of the employee. This reflects a broader social policy that seeks to ensure that victims of harm can seek compensation from more financially stable entities that have the ability to pay, rather than solely relying on the individual who may lack sufficient resources.

The other options do not accurately describe vicarious liability. For instance, saying individuals are responsible for their own actions focuses on personal liability rather than the shared responsibility that vicarious liability entails. The assertion that only employees can be held liable for company actions neglects the broader scope of liability that could involve other entities or parties. Lastly, the idea of shared liability among all parties does not capture the essence of vicarious liability, which is about one party assuming responsibility for another's actions under certain conditions.