Re:Vidoop Is Dead, Employees Getting Computers In Lieu Of Wages
by tptacek on Sunday May 31, 2009 @01:02PM
(#634854)
I read your first example (CA), which states:
In Reynolds v. Bement, 36 Cal. 4th 1075 (2005), the California Supreme Court
observed that, “[U]nder the common law, corporate agents acting within the scope of
their agency are not personally liable for the corporate employer‟s failure to pay its
employees‟ wages.” Id. at 1087.
Now I'm finished reading, and, hopefully, talking about this. Like I said, it's extremely unlikely that the owners, investors, or officers of a VC-funded company would be on the hook for salaries after the company went bankrupt. That's a good thing. Surprisingly few things need to go wrong for a company to BK. Who'd start a company if that event meant they'd lose their house?
In Reynolds v. Bement, 36 Cal. 4th 1075 (2005), the California Supreme Court observed that, “[U]nder the common law, corporate agents acting within the scope of their agency are not personally liable for the corporate employer‟s failure to pay its employees‟ wages.” Id. at 1087.
Now I'm finished reading, and, hopefully, talking about this. Like I said, it's extremely unlikely that the owners, investors, or officers of a VC-funded company would be on the hook for salaries after the company went bankrupt. That's a good thing. Surprisingly few things need to go wrong for a company to BK. Who'd start a company if that event meant they'd lose their house?