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Silverthorne Attorneys is a personal injury law firm in Orange County whose top priority and singular focus is the people we represent. We work diligently to make sure that our clients are well taken care of and that their needs are not only met, but come first. Injured now? Do not hesitate to reach out to Silverthorne Attorneys for a free consultation.
Limited liability is when a company’s liability is limited to a fixed sum, which generally comes to the monetary value of the person’s investment in a company or other partnership. If a company with limited liability is sued by another party, the other party is not going after their personal assets, they are going after the company – not the company’s owners or investors. A shareholder or investor of a limited liability company will not personally be held responsible for the debts of the company, should the company fall under the scrutiny of a lawsuit. Limited liability protects the individual from having their assets evaluated if their company is sued by another party.