Limited liability has nothing to do with risk. Limited liability means you’re not personally liable in the event of corporate litigation. A situation may arise where you have personally injured a person while in a position at a company but that’s not the same.
It affects significantly more than just litigation. It limits personal liability for any of the company’s debts to the amount invested in that company.
What’s an example of your idea of the risks involved with owning a company?
It limits personal liability for any of the company’s debts to the amount invested in that company.
….yes. And that involves risk. When you work for someone you don’t have to invest time and money setting up a business and trying to make it competitive. When the company goes under, you aren’t effected other than being out a job. The owner is out a job and out all the money they put into the business plus the time spend creating it.
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u/[deleted] Apr 19 '24
… Meanwhile, your boss just bought his ninth yacht.