Question:

I was wondering: If i start a C Corp, or an S Corp, and someone sued ME, could they take my company from me?

by  |  earlier

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Also, what if there are no "shareholders", and it is just me, behind the wheel (if that is even possible...)? Does this make a difference?

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  1. Well I am not an accountant or lawyer so this is only my opinion. A corporation whether C or S corp  if properly run-- meaning you do not mix comapny funds with your personal funds then you and your company are 2 separate people and therefore the company could not be taken away.  

    In a lawsuit, they will look at how your corporation was setup and run.


  2. Unfortunately, yes. Your stock in the corporation would be an asset of yours just like your bank accounts.  A judgement against you might ask you to forfeit the stock.

    Edit: if it's just you behind the wheel, there's still one shareholder - you.

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