![Limited Liability](https://sensationaltheme.com/demo-corpobell-pro/wp-content/uploads/sites/25/2019/03/pexels-photo-1153213.jpeg)
This is one of the major points of difference between a company and a sole proprietorship and partnership. The liability of the shareholders of a company is limited. The personal assets of a member cannot be liquidated to repay the debts of a company.