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The word "limited liability" refers to the fact that the owners are liability only for an amount up to their investment, within the scope of the corporation. Th
by tamana 10y ago
The word "limited liability" refers to the fact that the owners are liability only for an amount up to their investment, within the scope of the corporation. The limit refers to the investment, not the fact that criminal activity is still legal exposure. Obviously an owner cannot sign away liability for individual criminal activity, same as with any corporation.
- will_brown 10y agoAnd while you have stated the rule, what people don't understand is the exceptions in which members/owners of LLCs can in fact be personally liable above and beyond their investment in the entity.