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Would the LLC structure also protect him in case they decided to fine him $100 million? It'd probably protect him in case a wild animal bit one of his guests. I
by raleec 13y ago
Would the LLC structure also protect him in case they decided to fine him $100 million?
It'd probably protect him in case a wild animal bit one of his guests.
It's relatively cheap protection when so many things can go wrong.
- rplst8 13y agoYes, it separates financial liability from personal assets. Another good reason that I forgot to mention.
- gohrt 13y agoThe courts can and often do pierce the veil of sham LLCs like this. The LLCs main use (still bad), is that if LLC1 runs up a debt of a billion dollars, LLC2 might be protected from it.