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The “LL” in LLC stands for Limited Liability. The whole point is to financially insulate the owner(s).
by usefulcat 1y ago
The “LL” in LLC stands for Limited Liability. The whole point is to financially insulate the owner(s).
- JumpCrisscross 1y agoTo be fair, I think they’re talking about seizing the LLC’s assets. Not the members’.
- mingus88 1y agoWhich is why you see execs get golden parachutes for failing. The assets get transferred to private parties who walk away to repeat the exact behavior they were just rewarded for at another firm.
- Zigurd 1y ago"Limited" doesn't mean impenetrable. Try not paying employees.
- bumby 1y ago“Piercing the corporate veil” is a viable way to hold individuals accountable so they doing hide behind the limited liability in certain cases, like fraud.