Re:I Merged My One-Person Software Company with a Bigger Pla...
by soared on Monday April 29, 2019 @03:27PM
(#19781758)
What? This is 100% incorrect. Unless you make obvious errors, all of your personal assets are protected.
> Like shareholders of a corporation, all LLC owners are protected from personal liability for business debts and claims. This means that if the business itself can't pay a creditor—such as a supplier, a lender, or a landlord—the creditor cannot legally come after an LLC member's house, car, or other personal possessions.
> Like shareholders of a corporation, all LLC owners are protected from personal liability for business debts and claims. This means that if the business itself can't pay a creditor—such as a supplier, a lender, or a landlord—the creditor cannot legally come after an LLC member's house, car, or other personal possessions.
https://www.nolo.com/legal-encyclopedia/llc-basics-30163.htm...
Obvious errors being breaking the law, paying for your business loans with personal funds, etc.