Just Because You Have A Corporate Form Does Not Mean You Are Protected
I played baseball all throughout my childhood.
As any baseball player can tell you, it is really important to wear a cup to protect yourself.
One game, one of my teammates hit a pitch back at the pitcher.
The ball took a bad bounce and hit the pitcher underneath the cup.
Needless to say, there was a lot of groins covered in sympathy.
Corporations, Limited Liability Companies and Partnerships are a lot like a cup, they are supposed to protect you and minimize the potential damage to yourself.
However, as a business litigation attorney, I am the ball that can hit you underneath the cup.
Corporations, Limited Liability Companies and Partnerships only protect you from personal liability if you treat those entities as separate from yourself.
Too many businesses don’t hold their corporate meetings and worse, treat the business as their personal bank account.
So, don’t book your next vacation on the company dime and don’t buy your spouse a diamond necklace on it either.
Because the next thing you know, you are on the hook for your company’s debts and you have to enter bankruptcy.
For more information watch the video above!
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