Thus, limited liability companies were born. Investors could buy and sell Telephone Number List shares of the company, and while their upside profit potential was theoretically unlimited, their liability for losses was limited to just the amount of their investment. The company could mismanage its ships, property, and other assets, eventually Telephone Number List making the shares of ownership worthless.
Or the company could be sued by the families of lost Telephone Number List crews and be required to pay all of their assets out, but in no event would the investors be on the hook for any more than the amount they had already invested. The limited Telephone Number List liability company was treated as an entity separate from the investors - a fake person. In fact, that's loosely what corporation means.
The most important thing to understand Telephone Number List about this category of business entity is that these types of businesses are all separated, legally and financially, from the people who own them. This category insulates its owners from the business' financial and legal obligations. If the business owes more than it earns, the owners are not personally liable. If the business Telephone Number List hurts someone or damages property, the owners are not personally liable.