Blast-Off owns a nuclear power plant in northern Utah that suffers a nuclear accident causing $50 billion in damages. Blast-Off declares bankruptcy and pays out $5 billion in damages, but it is no longer liable for any further damages. From this information, it is clear that before the bankruptcy, the nuclear power plant was a

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Corporations are legal entities separate from their owners, providing limited liability protection. This means that if a corporation goes bankrupt, it can limit its liability to its assets, and the owners (shareholders) are not personally liable for the corporation's debts beyond their investment in the company. The scenario described fits this model, where Blast-Off, despite causing significant damages, limits its liability through bankruptcy, a characteristic of corporations.

Blast-Off Owns a Nuclear Power Plant in Northern Utah That