Comment by throwawayqqq11
7 days ago
LLC - Limited liability company
GmbH - Society with limited liability (german, translated)
This liability shield is by design.
7 days ago
LLC - Limited liability company
GmbH - Society with limited liability (german, translated)
This liability shield is by design.
Limited liability doesn't mean no liability. It means that you don't personally pay for damages due to mistakes not that you get to wantonly do crime without personal consequences.
The ceo (Geschäftsführer) is liable when they when they intentionally break the law so the limited liability is not applicable then.
And yet, we still have the ability to pierce the liability veil. Heck, it's even in the name, "limited liability". Not "no liability".