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PIERCING THE CORPORATE VEIL: WHEN YOUR LLC OR CORPORATION DOES NOT PROTECT YOU FROM PERSONAL LIABILITY

Posted on 11/18/2015 by SuperUser Account

One of the main reasons business owners form corporations and limited liability companies (LLCs) is to avoid personal liability for debts and liabilities of their business. Generally, business owners are protected from the debts and liabilities of their corporation or LLC because these entities are considered separate and distinct from those who own them (owners of an LLC are referred to as members, and owners of a corporation are shareholders).

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