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Old 08-20-2007, 11:37 PM
Gugel Gugel is offline
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Join Date: Apr 2005
Location: Charlottesville, VA
Posts: 1,029
Default Re: Starting a Limited Liability Company?

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Gugel,

I'm pretty sure that as long as you don't pierce the corporate veil of your LLC (by keeping business and personal expenses separate), then you aren't personally liable in a personal injury lawsuit (although your company sure is). Again, I'm not 100% and it may vary by state, but that is my understanding.

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I'm pretty sure officers/managers can be responsible for personal injury. Let's take a gross example. You get a shipment of soy beans from your supplier in China. You test the quality and find levels of toxins that are very clearly hazardous. You're like "meh, whatever, no one cares" and decide to sell the soy beans anyway. People buy your soy beans, eat them, and die. Your corporate shield ain't protecting you.
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