Articles Tagged with Asset Protection

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Brian_Blog_0_0Business activity involves risk.  It is the owner’s willingness to take a gamble, to accept risk that gives him the opportunity to make a profit.  No one starts a business expecting to fail.  However, not all businesses are profitable.  Even those that are profitable sometimes stumble:  a claim by a disgruntled customer; the failure of a product that was purchased and resold; an employee whose negligent actions hurt others.  The possibilities are numerous and can impact even the careful, responsible business owner.  For that owner, or for the entrepreneur starting a new business, sooner or later the question arises:  How can I protect my personal or family assets from claims against the business?  The knee jerk response is:  form a corporation—form a limited liability company (LLC).  Everyone knows that will protect me.  Right?  The answer, as is typical in legal matters is:  it depends.

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