One of the great advantages of a corporation over a partnership is the limited liability of the shareholder investors. If the business runs into trouble, the debts are the corporation’s rather than the shareholder’s, who can only lose what they have invested. This is one of the most important characteristics of a corporation and one of the significant limitations of a partnership. Discuss whether such limited liability is appropriate from a business point of view. Is it fair to all parties? What about creditors or others who have claims against the business because of poor decisions that have been made? Who should be responsible? In your response consider the movement toward creating limited liability partnerships (LLPs) and whether this is a forward or a backward step. Also consider the creation of the corporate myth, which is the basis for the limited liability of shareholders.