A corporation or Limited Liability Company (LLC) is a huge personal liability shield against the world. This is, perhaps, the main reason for a business owner to form a corporation (i.e. “incorporate”) or an LLC. Today’s post aims to describe what limited liability protection is about, why you may want it for your business, and some things to keep in mind to stay protected.

A brief history of the Corporation

The protection offered by a limited liability entity, such as a corporation or LLC, arises from the legal personality of the entity. The law recognizes these entities as “persons” separate from their owners. Just as one person generally cannot be held responsible for the actions of another, so too are owners of a corporation or LLC generally not responsible for what could be considered the entity’s “actions.” The concept of legal personality can be traced far back to ancient Rome.
Read More “Why Form an LLC or Incorporate? – Understanding & Protecting the Limited Liability Shield”