Posted by JohnBoy on July 03, 2001 at 21:46:52:
I don’t think so. If they could pierce the vail over that then what about using your home address as a corp. mailing address?
Importance of separate business phone line? - Posted by osirus
Posted by osirus on July 03, 2001 at 21:42:53:
Many people form a separate entity such as an coporation or a LLC, to sheild themselves from personal liability. I understand that there are certain on going legal and formal requirements that must be done in order to maitain the protection that these entities provide.
My question is this. Is it important to maintain a separate phone in the name of a corporation or LLC. Specifically, If someone were to sue your corporation or LLC and assuming that you did fullfilled all other legal and formal requirements, could the fact that you use your personal phone line as your busines line allow someone to pierce your corporation or LLC and sue you personally?
Re: Importance of separate business phone line? - Posted by Frank Chin
Posted by Frank Chin on July 04, 2001 at 08:02:26:
I’ve been in the credit and finance business for a while and here’s my take.
1- I’ve been to seminars on issues of peircing the corporate veil - and the issue of wether the business had a phone number never came up.
2- But the issue came up when we had to deal with the business as an ongoing entity like extedning credit to it. We DO NOT extend credit to businesses with no phone listed.
If you think about it, someone who decided NOT to have a business phone is probably a NEWBIE, or can’t afford one. Would you take a chance ??
Just my .02
Frank Chin
Re: Importance of separate business phone line? - Posted by Charles K. Clarkson
Posted by Charles K. Clarkson on July 04, 2001 at 24:12:05:
Ask the lawyer who incorporated you. My lawyer explained to me that in Texas it was difficult to pierce a corporation for procedural reasons like not keeping minutes, not writing resolutions in lieu of, etc. He went on to tell me that a large number of small companies have never even issued thier first stock. The idea is that a plumber is not a corporate lawyer, she’s a plumber and shouldn’t be penalized for not crossing every T.