How does SPI differ from SFC?

[Joshua D. Drake]

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Michael Renzmann wrote:
> Hi.
> 
>> I'm not sure, but SFC's pumping of itself as a liability protection
>> makes it sound like they have taken out insurance, although I can't
>> find any details of it.  On the other hand, they might just be
>> describing the nature of a corporation.
> 
> Can you please explain the meaning of the above two sentences a bit more?
> I fear I fail to comprehend its meaning - please bear with me, I'm no
> native english speaker :)

A Corporation, by law provides a specific level of liability protection
to the share holders. This is where the term "Corporate Veil" comes
from. Basically the Corporation does something bad, the Corporation is
punished and not the share holders (there are exceptions but that is the
gist).

Secondarily, there is Corporate insurance. Often called Error and
Omission insurance. The purpose of this is just like Car insurance. If
you make a mistake, and blow away someone's database. They can sue you.

If you have insurance, the insurance pays. If you don't. The company
does. If the company doesn't... well that is badness.

Joshua D. Drake


> 
> Bye, Mike
> _______________________________________________
> Spi-general mailing list
> Spi-general at lists.spi-inc.org
> http://lists.spi-inc.org/listinfo/spi-general


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