Comments on: Piercing the Veil: Holding Owners Liable for the Acts of the Business

By: michelle

michelle — Thu, 14 May 2009 07:08:36 +0000

Is it just as easy to pierce the corporate veil of a non-profit corporation as a regular corporation?

By: PCCL

PCCL — Fri, 08 May 2009 13:37:51 +0000

well this is a catch 22, if you change the rules to make the owners responsible it will lower new businesses by a huge margin, there is just too much risk if the owner is liable.

By: Ordinary Jack » Blog Archive » Financial accountancy

Ordinary Jack » Blog Archive » Financial accountancy — Thu, 07 May 2009 22:36:45 +0000

[...] Piercing the Veil: Holding Owners Liable for the Acts of the Business [...]

By: Will Barnard

Will Barnard — Thu, 07 May 2009 18:04:28 +0000

Great post Greg! It is great to have a competant attorney who understands the fundamentals as well as the details of the “ins and outs” of real estate. We are all lucky to have you as part of BP Nation!

I have explained time and again, that having an LLC (or any other entity for that matter) does not in itself protect the investor from all liabilities. I explain that the protection (assuming the business is ran in the proper format as you layed out) is only one way protecting your from the asset but not the asset from you. The proper terminology you use of inside and outside liability may be easier to grasp for those who did not understand who it works.

Thanks again for clearing this up for everyone.
Look forward to your next blog post topic.

Will B

By: Joshua Dorkin

Joshua Dorkin — Thu, 07 May 2009 17:20:25 +0000

Thanks again for a Brilliant post, Greg. I just can’t stand when people – especially these gurus – give out bad information, which can harm them. Thank you for clarifying how things really work!