Local Law Firms Home > Business Law Overview > Business Law FAQ's Q: What is the difference between a Limited Liability Company (LLC) and an S-Corporation? |
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Get lawyer help now for many of the following injury issues.
In certain situations, courts have permitted plaintiffs to pursue the possessions of the company’s owners to fulfill a judgment against the business. This defeats the personal liability defense that business owners naturally take advantage of when the business has met its legal requirements.
Some situations in which the courts may permit the plaintiff to “pierce” the defendant’s “corporate veil” include, fraud or intermingling of a business owner’s and company funds, failure to meet legal business regulations, acts in which the business can be no longer be looked as a another entity but is instead acting as the owner’s “alter ego,” and in some cases, undercapitalization.
Local Law Firms Home > Business Law Overview > Business Law FAQ's Q: What is the difference between a Limited Liability Company (LLC) and an S-Corporation? |