If You Are a Business Owner. What if You Get Sued?
Buildarticle.com | Buildarticle.com wrote an interesting post today on
Here’s a quick excerpt
What If I Get Sued?
When you are in business today, you must realize that there is a whole subculture that exists purely to sue business owners. Most business owners have done very little to protect their personal assets in the case of a business lawsuit. Having your business in an entity such as an LLC or corporation does provide some personal liability protection to the owner but even that is limited. If, in court, it can be proven that the owner of the business is responsible for the event that led to the liability, the entity no longer protects the owner. In most closely held businesses, it is not difficult to show that the owner was responsible.
If action is taken against the company, the owner could have virtually no protection for his personal assets. Most business owners have a large percentage of their net worth in their businesses. If a [...]
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