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Piercing the Corporate Veil

The so-called corporate veil is the legal designation of a limited liability company (LLC). The LLC designation is what offers business owners protection from legal responsibility for the company. When the corporate veil is not intact, business owners can end up having to use their own assets to pay for their business’s legal expenses. How […]

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LLC Status and Personal Liability Lawsuits

Many business owners mistakenly believe that they cannot be held personally liable for actions that were committed by or through their company.  Although setting up your business as a separate legal entity is definitely a good way to separate the liability of your business for the liability of the individual owner, such as yourself, it does […]

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Banking and the Small Business Owner

The Corporate Veil:  Don’t pierce it! “Piercing the Corporate Veil” refers to the situation when a court puts aside the protections that are normally associated with an incorporation.  The very reason you went to the trouble and expense to incorporate in the first place will be rendered void if you do not routinely exercise a […]

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What is “Piercing the Corporate Veil” ?

LIABILITY Liability can be quite confusing to a small business. Do you know what you are personally liable for? What are the exceptions to liability? What is “piercing the corporate veil”? How can you protect yourself? Don’t get caught in the rain! Generally, the owners, directors and employees of companies (i.e. corporations and limited liabilities […]

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