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Concept in the corpoate business world that protects [stockholders] from being liable for the debts of the business. A simple way of understand [this is that] [stockholders] can ONLY lose what they invest; creditors of a business CANNOT go after the stockholders for the business's liabilities. Basically a business can rack up a bunch of debt, go under, and not have pay the difference owed to creditors after liquidating. This concept does NOT apply to family owned business AKA non-corporations.
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