One of the main reasons why a business owner decides to incorporate is to limit his or her own personal liability for business debts. However, simply incorporating is not enough to enjoy protection of limited liability. One also needs to observe corporate formalities. Otherwise, the courts may decide to “pierce the corporate veil” of the business entity and hold the owner liable for the company debts. So, what does a business owner need to do to properly observe corporate formalities?
This week hear from Donata Kalnenaite, Esq.| Agency Attorneys out of Chicago, discuss these topics:
Tune in this Friday and call with your questions for Donata @ 646-478-3651