Liability protection can be achieved for business when they have property set up the separate entity in corporate form. Often this corporate structure is in the form of an "S" corporation or a LLC (Limited Liability Corporation.) Each entity has unique tax considerations, but provide liability protection for the individual business owner, when the company acts properly and has maintained the proper corporate structure. Maintaining the corporate minute books and insuring that company continues to act as the "Company" rather than the individual business owners is the keep to business prosperity and limited liability.