When Is An Individual Liable For An Entity’s Debts? Piercing The Corporate Veil
People often do business through corporate entities such as corporations, LLCs, and limited partnerships in part in order to limit risk of personal liability. Generally speaking, corporate shareholders, members of LLCs, and limited partners have no liability for the entity’s debts. The entity acts as a kind of “shield” or “veil,” protecting the investors behind… Read More