The crucial attribute of corporate vehicles is that they are legally separate from their owners and their owners’ liability for their debts is limited. What that means in practice is that, if you operate through a company, society as a whole is taking responsibility for your debts. It’s a kind of insurance. If your business fails, only the assets of the limited liability company will be at risk, not those of its owner. This is an exceptionally powerful tool, and one whose power is seldom appreciated. Imagine if it was as easy to register people as it is to register companies—you could go
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