The article discusses the concept of limited liability in business, focusing on the debate over whether shareholders should be personally responsible for a company's debts. It explores the history and justifications for limited liability, as well as the rise of new business forms like LLCs and LLPs. The main goal is to examine the limits of limited liability and the implications for creditors and investors. The key finding is that the doctrine of piercing the corporate veil allows creditors to hold shareholders accountable for a company's debts, challenging the traditional protection of limited liability.