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The corporate veil is often thinner than you think and priciplals of young companies are often asked to sign personal guarantees on contracts.
by steveax 11y ago
The corporate veil is often thinner than you think and priciplals of young companies are often asked to sign personal guarantees on contracts.
- redler 11y agoAnd lines of credit, leases, loans, insurance policies, corporate credit cards... One real-world indicator that your company is beginning to succeed is reaching the point that personal guarantees are no longer required.
- gnicholas 11y agoVery interesting. I've been a mostly-bootstrapped founder for a couple years now, and I've never been asked to personally guarantee anything—which is good, because I don't think my wife would let me.