When we think about an incorporated company we normally think about the advantage of incorporating our business to have the protection of not being personally liable for the business’s debts and liabilities. This means that the creditors are only able to look at the company’s assets to recover the money owed by the company. If there are insufficient assets in the company to satisfy the amount the creditors are owed then unfortunately it is there loss. As they are unable to get anything further from the personal possessions of the …