2 ms·
Limited liability only protects the shareholders. It exists because shareholders have no control over the corporation. It does not protect agents of the corpora
by philipov 2y ago
Limited liability only protects the shareholders. It exists because shareholders have no control over the corporation. It does not protect agents of the corporation, such as management, because they do have control of the corporation.
- Joel_Mckay 2y agoThis is true up to a point for shareholders, as for civil liability it is not guaranteed protection in some places. For example, if you hold shares of a firm that makes something locally illegal in another jurisdiction. =3