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What is the vicarious liability in LLC vs. LTD, S and C corporation?

Chicago, IL |

There are really three main provisions of how the company works that makes these companies slightly different. One is how they are taxed, another is the liability owners have in the company's wrongdoings or lawsuits filed against them, and finally the number of shareholders allowed.
What is the vicarious liability vs LLC, LTD ,S and C corporation? In other words how differ liability of the owners in the company's wrongdoings or lawsuits filed against them?

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The above is general legal and business analysis. It is not "legal advice" but analysis, and different lawyers may analyse this matter differently, especially if there are additional facts not reflected in the question. I am not your attorney until retained by a written retainer agreement signed by both of us. I am only licensed in California. See also terms and conditions item 9, incorporated as if it was reprinted here.

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The attorneys that answered this question are correct. Here are few links to get you started (please verify them, as I did not and do not warrant the information on those websites), but you really need to sit down with an attorney before you proceed forward. Good Luck.

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