3 ms·
Wouldn’t the members each be legally liable for anything that goes wrong?
by someguydave 8y ago
Wouldn’t the members each be legally liable for anything that goes wrong?
- sdenton4 8y agoIt's still a legal entity, just like any other private business. Liability should still be held by the company.
- jrochkind1 8y agoIt's a corporation. "limited liability" is part of the basic idea of a corporation, right? The _board_ will be individually liable for gross negligence or criminal malfeasance, same as any corporate board. The members are no more liable than shareholders in any other corporation, ie virtually none. (Beyond losing their equity completely, of course).
- someguydave 8y agoI thought you were specifying a partnership, not an LLC.