Ltd liability comes with the quid pro quo of transparency. Thanks to @OECDtax @TaxJusticeNet & others, this basic principle is starting to be updated for the modern world.https://twitter.com/TaxJusticeNet/status/1021760644729790464 …
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Sorry for slow reply: off line, on leave. V interesting point. Is there a simple intro to the quid pro quo in the US? Do you think it's reasonable for society to require transparency of ownership in exchange for ltd liability, as a general principle?
https://www.jonesday.com/Public_Disclosure_Requirements/ … -- it think its reasonable but not universal, so it is not accepted as a general principle.
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Ltdbliability was set up to protect investors/shareholders from losing everything/being fleeced and encourage risk taking.(Like LLPs?) May now be an argument favouring transparency but that's probably a happy coincidence. Would we consider T a precondition for other protections?
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