4 ms·
Even regardless of the Texas two-step, these corporate/LLC shenanigans don't really work well for individuals. That's what makes this dynamic especially galling
by mindslight 3y ago
Even regardless of the Texas two-step, these corporate/LLC shenanigans don't really work well for individuals. That's what makes this dynamic especially galling. As an individual you can certainly create the entities, but in the event of any significant suit it's very likely the corporate veil will get pierced based on reasons of you being personally involved in operating the company, undercapitalization, or lacking complete separation from your personal activities. It only works when you can hire patsies to do all the actual work, while remaining at arms length from the details. Technically those patsies can themselves be held individually liable for their own negligent/harmful actions performed for the LLC, but the point is that they're mostly judgement proof or members of the attorneys' guild, so lawyers leave them alone.
(also nit about the article - the terms are "limited liability company" or "corporation", generally not both)