What does Limited Liability mean?

Limited Liability occurs when a company is incorporated. A primary advantage to incorporating a business is the limited liability conferred upon its shareholders. The shareholders are not liable, in most cases, for the debts and other obligations of the corporation. A shareholder’s liability for the debts of the corporation is limited to the amount of funds the shareholder has invested in the corporation. Creditors only have rights against the corporation itself and not against the shareholders.

By | 2018-07-19T23:05:39+00:00 July 19th, 2018|

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