From the course: Business Law for Managers
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Potential personal liability: How to prevent it
From the course: Business Law for Managers
Potential personal liability: How to prevent it
- As a manager, you may be thinking, if I'm working for a company, I'm protected from being personally liable for anything, right? While it's true that being an agent of a larger company does afford you certain protections under the law, don't get too cozy just yet. You could be liable in many different ways if you aren't careful. Let's start by talking about what it means to be personally liable in the first place. If you're personally liable for your actions, this could mean that you could be sued civilly, encounter fines, infractions administered by the state or federal government, or even serve a prison sentence if you're held liable in criminal court. It means you don't have the shields or protections of your company anymore. If you're held liable in civil court and have settlements or a fine to pay, your house, bank account, or other assets may be attached by a judge in order to satisfy payment. Now, I know you have no intention of this happening, so let's go over which actions…
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