When it comes to liability what is the difference between a professional corporation and it's principal?

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Customer: When it comes to liability what is the difference between a professional corporation and it's principal?
Answered by Lori in 8 mins 7 months ago
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Lori
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Lori, Expert

The professional corporation is a corporation organized by one or more licensed individuals (such as a doctor or lawyer) especially for the purpose of providing professional services and obtaining tax advantages.  The professional corporation shields the principal for general liabilities or debts of the corporation.  However, if the principal is a licensed professional providing services can also be sued for negligence based on the principal's services rendered.

Customer
thank you for your answer
Customer
I believe what you are saying is that a general liability would be something like slipping on a wet floor at a dr's office verses the dr performing a procedure on a patient incorrectly?
Customer
the same would apply to a law firm, slipping on a wet floor verses failure to file paperwork in a court case?
Customer
are those analogies correct or am I way off base?
Customer
thank you in advance for your answers
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Lori, Expert

that is correct.  The same analogy would apply to a law firm.
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