[12853] in Commercialization & Privatization of the Internet
Re: EFF Platform
daemon@ATHENA.MIT.EDU (Larry Berg)
Wed Jun 1 05:09:54 1994
Date: Tue, 31 May 1994 23:28:25 -0700 (PDT)
From: Larry Berg <nwsyslaw@netcom.com>
To: Ira Brodsky <brodsky@radiomail.net>
Cc: baer@jessica.stanford.edu, com-priv@psi.com
In-Reply-To: <199405311928.AA09391@radiomail.net>
On Tue, 31 May 1994, Ira Brodsky wrote:
> <<corporations are not individuals, much as the law sometimes pretends
otherwise.>>
>
> Sole proprietorships are individuals.
> And I'm not certain it's self-evident the people who form corporations
>should have to relinquish their rights as individuals, much as lawyers
>would sometimes like them to do. <g>
Corporations are legal entities. If an individual abuses the corporate
status, he or she is may have personal liability if it can be shown that
the corporation is merely the alter ego of the individual.
People who form corporations often choose to do so in order to relinquish
certain rights as individuals in exchange for limited personal liability.
A new business entity is being created on a state-by-state basis which is
known as a limited liability company. A limited liability company is
treated as a partnership by the IRS, but the partners do not have
personal liability for the debts of the business enterprise. Many
business law commentators are referring to LLCs as the pass through
entity of the future. Most lawyers that I know are primarily concerned
with helping their clients make intelligent well-informed decisions.
There are probably one or two near you, wherever that may be.
Larry Berg
nwsyslaw@netcom.com
Seattle, WA
