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  1. #1

    Default Are My Personal Assets Threatened If My Business is Sued

    If I am the CEO and sole shareholder of a corporation in Wisconsin and my business is sued under tort law, is there any way that the plaintiff can get to my personal assets such as my house, my car, my savings account?

    Will the corporate legal entity protect my personal assets, or is there a way to sue me personally because I am an "employee" of the company?

    Thank you.

  2. #2
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    Default Re: Are My Personal Assets Threatened If My Business is Sued

    Is there a way? Yes. It's difficult and not often achieved - piercing the corporate veil.

    A corporation should separate your personal assets from your business assets, and limit your liability for acts of the corporation to your business assets. If you are the person who commits a wrongful act, you could have individual liability for that act (e.g., causing a car accident while making deliveries in the company vehicle.)

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