I'm not well versed in other countries' laws but you are right of course. My comment was intended to be seen in this direction: For small companies (let's say u

I'm not well versed in other countries' laws but you are right of course. My comment was intended to be seen in this direction: For small companies (let's say up to a few employees) almost all relevant risks of liability for the founder exist equally in both unlimited and limited liability companies. There are very few cases were the shield of a limited liability company is beneficial. An insurance is ofter a cheaper way of getting that. Also, a significant customer with a competent lawyer will ensure that all contracts with a small just-started business will include a personal liability clause. That supermarket down the street? Almost surely run by a fully liable merchant. That consulting office next door? A fully liable partnership. This two-person software company? Both owner fully liable. It's a common choice and often better suited than it might sound at first.