Change corporation name

If you sue a corporation, you can only sue the corporation as an entity.  The shareholders are protected.  In some cases, the shareholders can be held liable, but this is a different story.  Therefore, I wondered why do some corporations continue to exist, but they exist under different names.  I decided to look into that question.

If a person gets into a car accident, he/she will be held responsible for the

If you sue a corporation, you can only sue the corporation as an entity.  The shareholders are protected.  In some cases, the shareholders can be held liable, but this is a different story.  Therefore, I wondered why do some corporations continue to exist, but they exist under different names.  I decided to look into that question.

If a person gets into a car accident, he/she will be held responsible for the accident, but if a corporation gets into a car accident, it will be held responsible for the accident.  Therefore, if the car insurance penalty is too high, you can dissolve the corporation and open a new one.  This will enable the corporation to start over with no bonus or penalties on the car insurance.  The same goes for WCB insurance and other insurance that go up because of something that happened within the corporation.  It is too bad we cannot drop dead and come back alive with a new identity.

I am pretty sure many companies that have high accident and/or death rates deliberate on the issue of dissolving the corporation and opening a new one.  They need to keep their expenses at a minimum.

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