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by abfan1127
4119 days ago
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the intent is to limit the liabilities (financial and otherwise) to the corporation. If the corporation takes on debt and fails to pay, the lenders can't come after your personal assets. There are several ways to ruin your corporate protection, pierce the corporate veil. For example, if you personally sign for a loan, then you are personally liable for it. Its like a mine field. If you can navigate it properly, you can protect yourself. But, if you step incorrectly, you can really ruin your day. |
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