For a variety of reasons, entrepreneurs may decide to close the business they worked so hard to start and grow. Situations change and the need to dissolve an LLC or corporation may need to be addressed. An entrepreneur can grow tired of small business ownership or may simply want to retire. Possibly the business has been…
The “ACTION” items below are critical to the continued success and growth of any business. Protect Your Business Name and Trademarks : Building a powerful and meaningful brand is a top priority for most small business owners. Unfortunately, protecting that brand from infringing, unscrupulous competitors often takes a back seat when we are overwhelmed with…
YES, in my opinion. While an attorney is not a legal requirement, online formation services and document providers will typically only provide you with fill-in-the-blank forms (form Operating Agreement, form Organization Minutes, and form Membership Interest documents), which unfortunately eliminates the main benefit of the LLC – the ability to customize the relationship of the…
I always suggest a course of continuing education where asset protection principles are concerned. Because your education is never really complete and should be ongoing nevertheless ,here are some BEST ASSET PROTECTION principles to carry around in your wallet: Inventory Everything. Make a complete list of your assets and debts. It’s a good idea to do…
The limited liability company combines the limited liability advantage of a Corporation with the protection of your ownership interest. Yet, there are essential reasons you should prefer a Limited Liability CO. (LLC) or corporation to the Limited Partnership: – As with an S corporation, you can avoid double taxation with a Limited Liability Company. And, the Limited…
I am often asked how liability insurance is different from entity liability protection. Liability insurance is purchased from an insurance company to cover claims against the business. Business entities such as limited liability companies (LLC’s) and corporations provide limited liability protection, which prevents creditors from seizing the business owners’ assets. Business owners do not realize…
No More Partnerships. Please! The limited liability company combines the limited liability advantage of a Corporation with the protection of your ownership interest. Yet, there are essential reasons we should prefer a Limited Liability CO. (LLC) to either the Limited Partnership or even the Corporation: – As with an S corporation, you can avoid double…
The limited liability company combines the limited liability advantage of a Corporation with the protection of your ownership interest. Yet, there are essential reasons we should prefer a Limited Liability CO. (LLC) to either the Limited Partnership or even the Corporation: – As with an S corporation, you can avoid double taxation with a Limited…
