Key characteristics of liberal democracy include the protection of individual rights, the rule of law, free and fair elections, and a system of checks and balances. It emphasizes civil liberties, such as freedom of speech, press, and assembly, ensuring that citizens can actively participate in the political process. Additionally, liberal democracies often maintain an independent judiciary to uphold these rights and constrain majority rule from infringing upon minority rights. Overall, liberal democracy seeks to balance governmental power with the protection of personal freedoms, fostering a participatory political environment.