Episode 19: Corporate Liability
As a corporation, it is important to understand the concepts of corporate versus personal liability as well as the phrase “piercing the corporate veil” in order to avoid taking personal losses that might come with engaging in business endeavors with third parties. In today’s podcast, Alexander and Peter outline the steps towards protecting your own personal assets from harm in the face of potential conflicts with third parties who might try to pierce that veil.
Why even have a corporation at all? What will it do for you and your liability as an individual? It is important to not only take steps towards forming your corporation, but also to prove that you are distinct and separate from your entity. To do so, it is vital that certain protective measures be taken, such as creating a bank account separate from your personal finances and getting insured as a corporation, for example.
What must you do to maintain your entity? What other steps should be taken to create more space between you and your entity? What varying levels of protections do different types of corporations you might decide to form give you? This podcast contains the information needed to ensure the protection of personal liability as well as a strong foundation for your corporation.
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