Quotes About Limited liability

Corporations could raise funds through the sale of stock and bonds, and many states offered charters that gave stockholders limited liability: they would not be held responsible for the corporation's debts beyond their own investment. In exchange for all this, Americans believed that corporations had a greater obligation than other enterprises to serve a public good.

In the US, the technical term for a limited liability company is a 'corporation', which is ironic, because the term derives from 'corpus' ('body' in Latin) – the one thing these corporations lack.

Just like equality, rights and limited liability companies, liberty is something that people invented and that exists only in their imagination. From

And what are the characteristics that evolved in humans? 'Life', certainly. But 'liberty'? There is no such thing in biology. Just like equality, rights and limited liability companies, liberty is something that people invented and that exists only in their imagination. From a biological viewpoint, it is meaningless to say that humans in democratic societies are free, whereas humans in dictatorships are unfree.

Modern developments have eased the intensity of the ancient struggle between creditors and debtors. Stock markets and limited liability have provided an alternative to bank borrowing for raising capital, and the penalties for default have been progressively relaxed. We no longer demand labour services of defaulting debtors, or send them to prison. Debt-bondage is a shadow of its old self.

Corporations are created by the people, acting through their governments. We grant them corporate charters that confer certain legal rights and privileges, like the ability to enter into contracts, limited liability and perpetual life.

The owners' liability is limited to the monies they used to start the corporation, not all of their other personal assets.

If you have a business that is not operated as a limited liability entity, your personal assets and all of the assets of the business may be in jeopardy.

It is precisely the nature of modern mass murder that it is not visibly direct like individual murder, but takes on a corporate character, where every participant has limited liability.

The principle of limited liability was implied: shareholders stood to lose only their investment in the company and no other assets in the event that it failed.15

This is a crucial safeguard of our capitalist system, because if shareholders could be sued whenever a company made a mistake, people like you and me would be afraid to buy shares and become investors. Why would we want to run the risk of being held responsible for another big oil spill, or a rat hair in a hamburger, or the endless variety of mishaps that occur in business every day? Without limited liability, nobody would want to buy a single share of stock.