Quote:
Originally Posted by DoubleTap  What's the point of recognising a company as the seperate legal entity it is, if you are going to allow a Director or shareholder (or both) lay claim to its assets or anything registered in its name. This thread has become very interesting, Nominet seem to pick & choose when they consider that line as broad on one occasion, but jumpable on another. |
You may want to do business as a limited liability company even if you're a small 1-2 person outfit, precisely to limit your liability. In practice, that would give you near-total control over everything the business does. Or even if it's a much larger outfit, if by virtue of being the founder you also have overall control it's likely to be relatively easy to set up "favourable" deals on terms that - if vigorously scrutinised by an independent 3rd party - might seem too generous.
I won't name names (as I can't
prove anything), but in the .com space I noticed one company hand over a portfolio of names that I would realistically appraise as a $50 million to $100 million portfolio (yes, really!) to their former CEO for a total consideration of about $1 million a few years ago.
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