Microsoft Must be held accountable.

[Keith Mastin]

<snip>
>> Being incorporated also provides you with only very limited protection
>> against lawsuits.  Search google for director's liability.
>>
>> > If someone sues you personally, you can get thrown in jail, your
>> > possessions can be confiscated, etc.  If someone sues your company
>> > even if it consists solely of you, you can just file for bankruptcy
>> > and go do something else.
<snip>

It's not that easy. Filing for bankruptcy costs money, and so does
unincorporation. When you file your articles of corporation they make it
abundantly clear that the principles are personally responsible for
liability, as does the bank when they grant or extend credit. If the corp
owes money, the creditors can come to you for it. You cannot just run a
business into the ground and walk away with a profit anymore. It's
illegal.

I don't think you can unincorporate until your books are free and clear
and the creditors have been paid or those matters have been settled for
the corporation. Until you do, it's still a viable entity and can come
back to haunt you later.

-- 
Keith Mastin
BeechTree Information Technology Services Inc.
Toronto, Canada
(416)429 9304
--
The Toronto Linux Users Group.      Meetings: http://tlug.ss.org
TLUG requests: Linux topics, No HTML, wrap text below 80 columns
How to UNSUBSCRIBE: http://tlug.ss.org/subscribe.shtml