And we should make sure to never, never do any of them. Any corporate lawyer will tell you that to be a corporation you have to "act like a corporation", which includes all the red tape and seemingly silly stuff.
But signing personal guarantees is a much less obvious way of doing it too. There are plenty of times that the company is bankrupt but the former principals still have their money and that is the reason you don't want to do this. From: [email protected] [mailto:[email protected]] On Behalf Of Travis Johnson Sent: Wednesday, November 25, 2009 1:29 PM To: WISPA General List Subject: Re: [WISPA] Crown Castle There are MANY, MANY other ways to "pierce the corporate veil" than signing a personal guarantee. It's interesting how many corporations don't hold regular shareholder's meetings. That is often the easiest way that people break the veil.... without a meeting, it appears the corporation is acting as a partnership or sole proprietor, in which case there is no corporation protection. Regardless, actually breaking through the veil, etc. would only be required if the company didn't pay the bills... in which case, the company is probably bankrupt which means the person is probably without any money either... so really, it's a moo point. (Yes, I meant moo. Anyone watch Friends? :)) Travis Microserv rwf wrote: True- Also knows an "piercing the corporate veil". Had to look a long time to find a credit card processor to handle our Authorize.net transactions who did not require that. Ralph -----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of Steve Barnes Sent: Wednesday, November 25, 2009 11:19 AM To: fwatts; WISPA General List Subject: Re: [WISPA] Crown Castle That is correct you do not want to sign a personal guarantee. That breaks the corporation shell and you can then be held personally liable for a any part of the business. Steve Barnes RC-WiFi Wireless Internet Service Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, vision cleared, ambition inspired, and success achieved. - Helen Keller -----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of fwatts Sent: Wednesday, November 25, 2009 11:07 AM To: WISPA General List Subject: Re: [WISPA] Crown Castle My attorney has always told me not to sign a personal guarantee. If you are a corporation and you sign a personal guarantee it creates a way for some one to say you are no longer acting as a corporation but as a person and makes it easier for you to be held personaly responsible for other things having nothing to do with what you signed the guarantee in the first place. Frank Brightlan LLC ----- Original Message ----- From: "Ryan Spott" <mailto:[email protected]> <[email protected]> To: "WISPA General List" <mailto:[email protected]> <[email protected]> Sent: Wednesday, November 25, 2009 10:39 AM Subject: Re: [WISPA] Crown Castle Who signs the personal guarantee for Clearwire? ryan On Wed, Nov 25, 2009 at 7:26 AM, Josh Luthman <mailto:[email protected]> <[email protected]>wrote: What I suggest is if you do need to sign a personal guarantee, do it very very sparingly. If you have a personal guarantee, though, keep it at the top of the getting paid list - especially when SHTF. Josh Luthman Office: 937-552-2340 Direct: 937-552-2343 1100 Wayne St Suite 1337 Troy, OH 45373 "The secret to creativity is knowing how to hide your sources." --- Albert Einstein On Wed, Nov 25, 2009 at 10:04 AM, Blake Bowers <mailto:[email protected]> <[email protected]> wrote: LOL!!! Never, never never sign a personal guarantee..... Even ATC does not require that. Don't take your organs to heaven, heaven knows we need them down here! Be an organ donor, sign your donor card today. ----- Original Message ----- From: <mailto:[email protected]> "[email protected]" <mailto:[email protected]> <[email protected]> To: <mailto:[email protected]> <[email protected]> Sent: Tuesday, November 24, 2009 9:57 PM Subject: [WISPA] Crown Castle We are looking to get on a Crown Castle tower and =in their credit app they want to run personal credit and have a personal guarantee. Has anyone not signed the personal guarantee? ---------------------------------------------------------------------------- ---- WISPA Wants You! 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