A court will pierce the corporate veil of a corporation when the corporate privilege is abused for personal benefit.

Limits on a partner’s authority normally are effective only with respect to third parties who are notified of the limitation.​

A corporate director “owns” the corporation.

Limits on a partner’s authority normally are effective only with respect to third parties who are notified of the limitation.​

Michel is a citizen of France. With respect to a limited liability company in the United States, Michel can

Western Rodeo LLC is a limited liability company (LLC). Like other LLCs, for federal jurisdictional purposes, Western Rodeo is most likely a citizen of

Limited legal liability generally is necessary for small businesses that wish to raise outside capital.

Limited legal liability generally is necessary for small businesses that wish to raise outside capital.

Preferred stock is an equity security with preferences.

With preemptive rights, shareholders can preempt the decisions of directors and officers with respect to corporate policy.