As a general rule, corporations and LLCs are separate and distinct from their shareholders and members. This means that the owners are typically not liable personally for the debts and obligations (including judgments and settlements) of the company. However, sometimes courts see fit to pierce the corporate veil, bypassing the company and finding one or more of the owners personally liable. In this podcast, I discuss best practices that company owners should implement in order to decrease the chances that the corporate veil will be pierced.
