Only some liabilities. Mainly debt -- so people would not be afraid to start businesses and borrow money. But if, say, an accountant produces an incorrect report -- they may personally go to jail. Or an HR or information security officer can be accused of negligence.
Sometimes it even works the other way, a person (usually Officer) can be personally responsible for company actions, even when they didn't commit it themselves. Logic is they should've known or implemented processes in a way to prevent it in the first place. People often don't realize how much responsibility officers carry for the actions of their employees they have little control over.
Only some liabilities. Mainly debt -- so people would not be afraid to start businesses and borrow money. But if, say, an accountant produces an incorrect report -- they may personally go to jail. Or an HR or information security officer can be accused of negligence.
Sometimes it even works the other way, a person (usually Officer) can be personally responsible for company actions, even when they didn't commit it themselves. Logic is they should've known or implemented processes in a way to prevent it in the first place. People often don't realize how much responsibility officers carry for the actions of their employees they have little control over.
Also https://en.wikipedia.org/wiki/Piercing_the_corporate_veil
Corporations cannot replace some regulated liability, for example some types of professional engineers.