One way to setup multiple corporations and isolate the legal liability of each is to setup a Series Limited Liability Company (LLC). A series LLC creates an unlimited number of sub-LLCs, each with a separate business purpose or investment objective, under an umbrella of a parent LLC.
Special language is incorporated into the certificate of formation and the company agreements that allows numerous corporations who each are a separate juridical entity. Texas business organizations code chapter 101, section 101.602 states "the debts, liabilities, obligations, and expenses incurred...with respect to a particular series shall be enforceable against the assets of that series only, and shall not be enforceable against the assets of the limited liability company generally or any other series." As well, the same holds true that the sub-series are exempt from the obligations of the parent LLC. Essentially, the parent LLC is protected from liability of the series, and each series is theoretically protected from the liabilities of the parent and other LLCs.