3 ms·
Limited liablity only works one way: individual cannot be personally liable for the debt of the corporation. But if you, the owner, are in debt then there's a s
by mamon 7y ago
Limited liablity only works one way: individual cannot be personally liable for the debt of the corporation. But if you, the owner, are in debt then there's a simple solution for your creditor: seize your shares in said corporation (and after gaining control over corporation, just take money from its bank account).