3 ms·
As others have said, this totally depends on: 1) What your company's setup was. If it was an LLC, Corp, or other such entity, then you in theory have at least
by silverlight 12y ago
As others have said, this totally depends on:
1) What your company's setup was. If it was an LLC, Corp, or other such entity, then you in theory have at least some protection, assuming as well that
2) When you did business with this other company, you can show (legally) that they knew they were doing business with your company, and not you as an individual. What you put down as your address probably doesn't matter, what matters is what the communications between you said (e.g. did you contact them from a company-related email address and say "I'm ordering X for my company Y?"), did you sign the contract as a "Member" or "Manager" or "CEO" or whatever of your company, etc. This is what it would come down to in court that you'd be trying to prove (assuming 1) was in place).
As with any situation like this it's all in the details of your specific case, get a lawyer to talk to you for an hour and they can give you a good overview and it's worth doing if you might owe $20k. For example, even if 1) and 2) check out, if the debtor can show that you paid yourself money from your company before the company paid its outstanding debts, they may be able to get at least some money from you personally even if the company's accounts are dry (basically, you can't just take money and run from a company and leave company debts on the books). That's just one example of what might complicate your situation, IANAL and there are probably a lot more. So, again, get a real lawyer.
- tptacek 12y ago(IANAL) You only have the contract liability protections of a limited liability company if you execute contracts as the company. You know when you've done this, because most vendors are hesitant to sign contracts with an LLC that's only a few months old.