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Wasn't this guy going to simply shut the company down? I agree that he should get a patent attorney if he can afford one, but if he can't, I don't see how this
by ryanwaggoner 16y ago
Wasn't this guy going to simply shut the company down? I agree that he should get a patent attorney if he can afford one, but if he can't, I don't see how this is any worse than just shutting down [1]. What does he have to lose?
1. This assumes that he has a limited-liability company of some kind and has run it correctly to avoid them piercing the veil.
- cd34 16y agoIf a single person holds all positions in the LLC, i.e. closely held, that veil is easily pierced as they can say 'you' committed the negligence as the GM of the company and the company is just a tax vehicle. In this case, a closely held LLC or S-Corp provides very little liability protection, and his E&O insurance will reflect that.