Piercing the Corporate Veil of a Limited Liability Company

Commingle Funds and Your Liability Shield May Disappear Now that you have taken to heart the information provided in the previous post, Does your “LLC” really limit your liability?, don’t jeopardize the shield created between your business and your personal assets. I have often heard the phrase, “As a business owner, it is not ‘if’ you get sued but rather ‘when’ you get sued.” In determining whether a business owner is personally liable for the debts of a n Ohio Limited Liability Company (presuming the business has not been used for criminal or fraudulent purposes), courts...

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Does your Limited Liability Company really limit your liability?

Organize your Limited Liability Company to Protect Against Personal Liability As a business owner, the question is not “if” you will be sued; rather, it is likely “when” you will be sued. To protect against personal liability in Ohio, the Limited Liability Company (“LLC”) has become one of the more popular entities chosen by business owners to operate their respective businesses. The LLC provides the flexibility and ease of creation of a partnership while at the same time establishing a liability shield similar to a traditional corporation. My experience in...

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Chris E. Chapman, Esq.

Chris Chapman was awarded his Juris Doctor in 2013 from Capital Law School in Columbus, Ohio. Mr. Chapman is presently a member of the Ohio State Bar Association and the Columbus Bar Association. Prior to practicing law, Mr. Chapman had a successful career in the business community in addition to serving in the U.S. Army 3rd Special Forces and 19th Special Forces Groups. This diverse business and Military background provides a unique perspective and understanding of the unique challenges clients face on a day-to-day basis. Since commencing the practice of law in 2013, Mr. Chapman has focused...

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