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In the US at least, a sole proprietorship/single-member LLC doesn't do much to shield you from liability. You can't really say "it was the company's fault!" whe
by jaywalk 4y ago
In the US at least, a sole proprietorship/single-member LLC doesn't do much to shield you from liability. You can't really say "it was the company's fault!" when you are the company.
- zharknado 4y agoBut it provides a strong backstop against the consequences of liability. E.g. if your house and your car aren’t assets of the corporation, they can’t be seized and liquidated to satisfy debts or settle litigation.
- etothepii 4y agoIANAL. Yes you absolutely can, the whole reason why businesses should NOT want to do businesses with an LLC and why you have to put the letters LLC/LTD on letterheads etc is because the person you are dealing with will have no recourse to assets beyond those owned by the corporation.