As Armour, Hansmann & Kraakman’s classic Anatomy of Corporate Law attests, limited liability is a powerful “owner shield”, in fact, the reverse of “entity shielding” and, together with it, two of the main components of legal personality.The “company shield” protects the company’s assets from the possible claims of the shareholders’ creditors, while the “shareholders’ shield” protects the shareholders’ assets from those of the c...